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Alliance Data may repay revolver borrowings via convertibles proceeds
By Sara Rosenberg
New York, May 26 - Alliance Data Systems Corp. may pay down some of its revolving credit facility debt using proceeds from a $300 million convertible senior notes offering, according to a news release.
Proceeds from the convertibles will also be used to repurchase an estimated $75 million worth of common stock shares, to pay an estimated $39.3 million for the cost of convertible note hedge transactions and for general corporate purposes.
Alliance Data is a Dallas-based provider of data-driven and transaction-based marketing and customer loyalty services.
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