Convertibles Calendar: $1.2 billion deals being marketed

March 4 (post-close)

BRIDGEBIO PHARMA INC.:

• $475 million, upsized from $350 million, seven-year convertible notes

• Coupon of 2.25% to 2.75%, up 35% to 40%

• Rule 144A

• J.P. Morgan Securities LLC, BofA Securities Inc. (active), Mizuho Securities USA Inc., Piper Sandler & Co. and KKR Capital Markets

• Non-callable

• Proceeds to cover the cost of the call spread, approximately $75 million will be used to repurchase shares from purchasers of the notes in privately negotiated transactions, and remaining proceeds will be used for working capital and general corporate purposes

• Palo Alto, Calif.-based pharmaceutical company

NANOSTRING TECHNOLOGIES INC.:

• $200 million, upsized from $175 million, five-year convertible notes

• Coupon of 2.375% to 2.875%, up 37.5% to 42.5%

• Rule 144A

• J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC

• Non-callable for three years then subject to a 130% hurdle

• Approximately $89 million of the proceeds will be used to terminate the company’s senior term loan facility with remaining proceeds for general corporate purposes

• Seattle-based biotech company specializing in cancer diagnostic tools

ENPHASE ENERGY INC.:

• $320 million five-year convertible notes

• Coupon of 0% to 0.5%, up 50% to 55%

• Rule 144A

• Barclays and Goldman Sachs & Co. LLC

• Proceeds to cover cost of the hedge transactions and for general corporate purposes

• Fremont, Calif.-based global energy technology company

INFINERA CORP.:

• $200 million seven-year convertible notes

• Coupon of 2% to 2.5%, up 27.5% to 32.5%

• Rule 144A

• Goldman Sachs & Co. LLC

• Non-callable until March 5, 2024 and then subject to a 130% hurdle

• Proceeds for general corporate purposes

• Sunnyvale, Calif.-based global supplier of networking equipment

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