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Alliance Data to repay bank debt with convertibles proceeds
By Sara Rosenberg
New York, July 23 - Alliance Data Systems Corp. plans to repay two of its outstanding credit agreements in full using proceeds from a $700 million convertible senior notes offering, according to a news release.
Remaining proceeds will be used to fund the repurchase of about $300 million of the company's common stock and pay about $105 million related to convertible note hedge transactions.
Alliance Data is a Dallas-based provider of data-driven and transaction-based marketing and customer loyalty services.
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