Workiva talks $300 million seven-year convertible notes to yield 0.875%-1.375%, up 37.5%-42.5%

By Abigail W. Adams

Portland, Me., Aug. 12 – Workiva Inc. plans to price $300 million of seven-year convertible notes after the market close on Tuesday with price talk for a coupon of 0.875% to 1.375% and an initial conversion premium of 37.5% to 42.5%, according to a market source.

Goldman Sachs & Co. LLC and SunTrust Robinson Humphrey Inc. are active bookrunners for the Rule 144A offering, which carries a greenshoe of $45 million.

Stifel, Nicolaus & Co. Inc. is a passive bookrunner.

The notes are non-callable for four years and then subject to a 130% hurdle. There is takeover and dividend protection.

Proceeds will be used for general corporate purposes, including the acquisitions.

Workiva is an Ames, Iowa-based reporting and compliance solutions company.

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