debt
confidence high
sentiment positive
materiality 0.65
Bandwidth repurchases $65M of 0.25% convertible notes at 22% discount; $175M remain
Bandwidth Inc.
- Repurchasing $65M aggregate principal of 0.250% Convertible Senior Notes due 2026 at ~22% discount to par.
- Repurchase price paid in cash based on VWAP of BAND common stock over two-day period starting March 1, 2023.
- Expected close March 6, 2023; after close, $175M principal remains outstanding from initial $400M.
- Cumulative repurchases reduce 2026 notes outstanding by more than 55% (including $160M repurchased in Nov 2022).