Concur to price $250 million five-year convertible notes to yield 2.25%-2.75%, up 22.5%-27.5%

By Rebecca Melvin

New York, March 29 - Concur Technologies Inc. plans to price $250 million of five-year convertible senior notes on Tuesday that are talked to yield 2.25% to 2.75% with an initial conversion premium of 22.5% to 27.5%, according to a market source.

The Rule 144A offering has an over-allotment option for up to an additional $37.5 million of notes and is being sold via Goldman Sachs & Co. and Deutsche Bank Securities Inc.

There are no calls or puts.

Proceeds are earmarked for general corporate purposes, including potential acquisitions and strategic transactions, and to fund the cost of convertible note hedge transactions.

Concur is a Redmond, Wash., provider of on-demand Employee Spend Management services.

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