Cardlytics talks $150 million five-year convertibles to yield 4%-4.5%, up 27.5%-32.5%

By Abigail W. Adams

Portland, Me., March 26 – Cardlytics Inc. plans to price $150 million of five-year convertible notes after the market close on Tuesday with price talk for a coupon of 4% to 4.5% and an initial conversion premium of 27.5% to 32.5%.

Evercore and BofA Securities Inc. are bookrunners for the Rule 144A offering, which carries a greenshoe of $22.5 million.

The notes are non-callable.

They are putable upon a fundamental change.

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

Proceeds will be used to repurchase for a cash a portion of the company’s outstanding 1% convertible notes due 2025 in privately negotiated transactions with remaining proceeds to be used for general corporate purposes.

Cardlytics is an Atlanta-based digital advertising platform.

© 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.