WisdomTree talks $130 million long five-year convertibles to yield 5.625%-6%, up 60%

By Abigail W. Adams

Portland, Me., Feb. 9 – WisdomTree Inc. plans to price $130 million of long five-year convertible notes after the market close on Thursday with price talk for a coupon of 5.625% to 6% and a fixed 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 $20 million.

The notes are non-callable until Aug. 20, 2025 and then under certain circumstances.

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

The company will enter into privately negotiated transactions to repurchase $115 million in principal of its 4.25% convertible notes due June 15, 2023.

Proceeds will be used to fund the repurchase of the 4.25% notes and for general corporate purposes.

WisdomTree is a New York-based global financial company offering a range of exchange-traded products.

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