WisdomTree talks $150 million three-year convertible notes to yield 3.75%-4.25%, up 60%

By Abigail W. Adams

Portland, Me., June 9 – WisdomTree Investments Inc. plans to price $150 million of three-year convertible notes prior to the market open on Wednesday with price talk for a coupon of 3.75% to 4.25% and an initial conversion premium of 60%, according to a market source.

Oppenheimer & Co. Inc. is the bookrunner for the Rule 144A offering, which carries a greenshoe of $22.5 million.

The notes are contingently convertible until March 15, 2023.

They are non-callable until June 20, 2021 and then subject to a 130% hurdle.

The notes will be settled in cash up to their principal amount with any excess amount to be settled in cash, shares or a combination of both at the company’s option.

Proceeds will be used to repay the company’s senior secured term loan and repurchase common stock.

WisdomTree is a New York-based ETF and ETP sponsor and asset manager.

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