RightNow Technologies to price $125 million 20-year convertibles to yield 2%-2.5%, up 23%-27%

By Rebecca Melvin

New York, Nov. 15 - RightNow Technologies Inc. plans to price $125 million of 20-year convertibles after the close of markets on Tuesday that were talked to yield 2% to 2.5% with an initial conversion premium of 23% to 27%, according to a market source.

The Rule 144A offering has a greenshoe of $25 million.

Credit Suisse is the bookrunner of the senior notes, with JMP Securities acting as the co-lead manager.

The notes will be non-callable until Nov. 20, 2015. There are investor puts in years five, 10 and 15.

Proceeds are earmarked for general corporate purposes, which may include financing potential acquisitions and strategic transactions and working capital.

RightNow is a software company based in Bozeman, Mont.

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