SS&C plans $1 billion convertible senior notes offering
SSNC•SS&C Technologies plans a $1 billion private placement of convertible senior notes due 2031, with an option for purchasers to buy another $150 million. Proceeds and additional borrowings will fund redemption of $2 billion of 5.5% notes due September 30, 2027, capped call transactions and up to $100 million in share repurchases.
1. Offering details
SS&C Technologies plans a $1 billion private placement of convertible senior notes due 2031. Initial purchasers may buy an additional $150 million, bringing the potential offering to $1.15 billion. The notes’ interest rate and initial conversion rate will be set at pricing.
2. Use of proceeds
The company plans to use proceeds and additional borrowings to redeem $2 billion of its 5.5% senior notes due September 30, 2027. Proceeds will also fund capped call transactions and up to $100 million in share repurchases.
