M&A
confidence high
sentiment neutral
materiality 0.60
HP receives requisite consents for Poly notes exchange; $490.5M tendered
HP INC
- HP received requisite consents to adopt amendments to Poly indenture; $490.5M aggregate principal of Poly Notes tendered as of July 18.
- Consent payment of ~$16.31 per $1,000 principal; early participation premium extended to August 1 expiration date.
- Exchange offer expires Aug 1, 2022; settlement expected after closing of Poly acquisition, targeted by end of 2022.
- Exchange is conditioned on closing of acquisition and other conditions.