Unity Software to buy back $479.8 million 0% convertibles due 2026

By Mary-Katherine Stinson

Lexington, Ky., March 5 – Unity Software Inc. has agreed to repurchase $479.8 million of the company’s outstanding 0% convertible senior notes due 2026, according to an 8-K filing with the Securities and Exchange Commission.

The company reached an agreement on March 4 with certain noteholders to purchase the notes in separate, privately negotiated transactions for a total cash repurchase price of approximately $415 million.

The repurchases are expected to close on March 7.

Following cancellation, $1,245,200,000 aggregate principal amounts of notes will remain outstanding.

The company is repurchasing the notes in order to manage a portion of its upcoming debt maturities.

Unity creates and operates real-time 3D content. The company is based in San Francisco.

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