Informatica issues call for $201 million of 3% convertibles due 2026

By Toni Weeks

San Diego, Feb. 14 - Informatica Corp. said it is calling for full redemption its $201 million of 3% convertible senior notes due 2026, according to a news release.

The redemption will occur on March 18 at a redemption price of par plus accrued interest, or a total of $1,000.25 per $1,000 principal amount of notes.

Instead of redeeming the notes, holders may opt to convert them into shares of the company's common stock at a price of approximately $20 per share, or 50.00 shares per $1,000 principal amount of notes.

As long as the market price of the stock is at least $20.005 per share, a holder of notes who wishes to convert them will receive the market value upon conversion, plus cash for any fractional share, which is greater than the cash that would be received upon redemption. The closing price of the stock (Nasdaq: INFA) on Feb. 11 was $49.41.

The deadline for conversion is 5 p.m. ET on March 17; any notes not converted by that time will automatically be redeemed on March 18.

The conversion and redemption agent is U.S. Bank NA (800 934-6802).

Informatica is a Redwood City, Calif.-based provider of data integration software.

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