DoubleClick $135 million convertibles talked to yield 0%, up 46-50%

By Ronda Fears

Nashville, June 17- DoubleClick Inc. launched $135 million of 20-year convertible subordinated notes talked to yield 0% with a 46% to 50% initial conversion premium.

Citigroup is lead manger of the Rule 144A deal, which is scheduled to price after the market close Tuesday.

The issue will be non-callable for five years. There are puts in years five, 10 and 15, payable in cash only. There also is a contingent conversion hurdle of 120%.

Proceeds are earmarked to redeem DoubleClick's 4.75% convertible subordinated notes due 2006.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.