SolarEdge greenshoe ups 0% five-year convertibles to $632.5 million

Chicago, Sept. 25 – Initial purchasers of SolarEdge Technologies Inc.’s 0% five-year convertible notes exercised their option to purchase an additional $82.5 million of notes, according to an 8-K filing with the Securities and Exchange Commission.

The issue size is now $632.5 million, increased from an upsized $550 million at pricing.

The convertibles have an initial conversion premium of 50% and priced on Sept. 23.

As previously reported, the notes are non-callable and are putable upon a fundamental change.

The notes are contingently convertible until June 15, 2025.

There is dividend protection.

The notes will be settled in cash, shares or a combination of both at the company’s option.

Proceeds will be used for general corporate purposes.

© 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.