Convertible senior notes due 2020 sold to Ping An ZQ China Growth
By Devika Patel
Knoxville, Tenn., June 15 – Nu Skin Enterprises, Inc. arranged a $210 million private placement of 4.75% convertible senior notes due 2020 with Ping An ZQ China Growth Opportunity Ltd. on June 14, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The notes are initially convertible into common stock at a conversion rate of 21.51 shares per $1,000 of notes, which equals an initial conversion price of $46.50 per share. The conversion price is a 15.93% premium to the June 13 closing share price of $40.11.
Settlement is expected June 21.
Nu Skin is a Provo, Utah, personal care products distribution company.
| Issuer: | Nu Skin Enterprises, Inc.
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| Issue: | Convertible senior notes
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| Amount: | $210 million
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| Maturity: | 2020
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| Coupon: | 4.75%
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| Conversion price: | $46.50
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| Conversion rate: | 21.51
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| Conversion premium: | 15.93%
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| Warrants: | No
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| Investor: | Ping An ZQ China Growth Opportunity Ltd.
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| Pricing date: | June 14
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| Settlement date: | June 21
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| Stock symbol: | NYSE: NUS
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| Stock price: | $40.11 at close June 13
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| Market capitalization: | $2.28 billion
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