debt
confidence high
sentiment neutral
materiality 0.75
Bandwidth Inc. proposes $275M convertible senior notes due 2032
Bandwidth Inc.
- Offering $275M aggregate principal of convertible senior notes due 2032; over-allotment option up to $41.25M.
- Net proceeds to repurchase a portion of its outstanding 0.50% convertible notes due 2028 and repay credit facility.
- Capped call transactions expected to reduce potential dilution upon conversion; cost paid from offering proceeds.
- Up to $10M of net proceeds to repurchase Class A common stock concurrently with pricing.