COMMVAULT SYSTEMS INC (CVLT): debt financing — Commvault Issues $900M 0% Convertible Senior Notes Due 2030, Enters Capped Call Transactions

COMMVAULT SYSTEMS INC

Issued $900M aggregate principal amount of 0% Convertible Senior Notes due 2030 on September 5, 2025, plus initial purchasers exercised option for additional $115M.
Notes mature September 15, 2030, convertible at option of holders under certain conditions, with initial conversion price approximately $236.88 per share.
Concurrently entered capped call transactions with affiliates of initial purchasers to reduce potential dilution upon conversion, with initial cap price of $357.56 per share.
Notes are senior unsecured obligations, rank equally with existing senior unsecured debt, and structurally subordinated to subsidiary liabilities.
Company may redeem notes on or after September 22, 2028 if stock price exceeds 130% of conversion price; holders may require repurchase upon fundamental change.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

COMMVAULT SYSTEMS INC incurred convertible notes of $900,000,000 (plus $115,000,000 exercised in full) with U.S. Bank Trust Company, National Association at 0% maturing September 15, 2030.

Instrument: convertible notes
Principal: $900,000,000 (plus $115,000,000 exercised in full)
Counterparty: U.S. Bank Trust Company, National Association
Rate: 0%
Maturity: September 15, 2030
Event: incurrence

Exact text from the filing

On September 5, 2025, Commvault Systems, Inc. (the “Company”) issued $900,000,000 aggregate principal amount of 0% Convertible Senior Notes due 2030 (the “Notes”).

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COMMVAULT SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0001169561-25-000075

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