Convertibles Calendar: Bandwidth, GFL Environmental on tap

Feb. 25 (post-close)

EXACT SCIENCES CORP:

• $850 million eight-year convertible notes

• Fixed coupon of 0.375%, fixed conversion premium of 27.5%, offer price of par

• Registered

• BofA Securities Inc.

• Non-callable

• Proceeds for general corporate purposes, including the repayment of debt, for working capital and for possible acquisitions

• Madison, Wis.-based molecular diagnostics company

March 3 (post-close)

GFL ENVIRONMENTAL INC.:

• $700 million or 14 million $50-par tangible equity units

• Dividend of 5.75% to 6.25% and a threshold appreciation premium of 17.5% to 22.5%

• Registered

• J.P. Morgan Securities, BMO Capital Markets, Goldman Sachs & Co. LLC, RBC Capital Markets, Scotiabank, Barclays, BC Partners, Raymond James, Stifel and TD Securities Inc.

• Callable after March 15, 2021 subject to a 130% hurdle

• Concurrent IPO of 71,652,440 shares to be priced at $20 to $21 a share

• Proceeds to redeem the outstanding 5.625% senior notes due 2022, 5.375% senior notes due 2023, $270 million of the principal amount of its 7% senior notes due 2026 and $240 million of its 8.5% senior notes due 2027 and for general corporate purposes, including possible acquisitions.

• Toronto-based environmental services company

© 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.