RingCentral intends convertible notes repurchase from new offering

Chicago, Aug. 9 – RingCentral Inc. plans to use a new offering of straight bonds for a repurchase or repayment of its outstanding convertible notes, according to market sources.

From a new offering of bonds in the high-yield market, the company will address its convertible notes first and then the remainder of proceeds will be used for general corporate purposes which may include working capital, capital expenditures, debt repurchases or repayments, potential strategic transactions and acquisitions.

RingCentral is a Belmont, Calif.-based provider of cloud-based communication and collaboration products and services for businesses.

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