By Sara Rosenberg
New York, June 30 - Allscripts Healthcare Solutions Inc. sold $75 million of convertible senior notes due 2024 at par to yield 3.5% with a 40% initial conversion premium via lead manager Bank of America Securities.
The deal came at the cheap end of yield talk of 3.0% to 3.5% and at the mid-point of premium talk of 38% to 42%.
WR Hambrecht, William Blair & Co., SunTrust Robinson Humphrey and Jefferies Broadview are co-managers on the Rule 144A deal that priced after the close Tuesday.
Proceeds will be used to repurchase $11.25 million of Allscripts' common stock that it expects will be sold by purchasers of the convertibles and for general corporate purposes, which may include future additional share repurchases, acquisitions or other strategic investments.
Allscripts is a Libertyville, Ill. provider of clinical software, connectivity and information solutions for physicians.
| Issuer: | Allscripts Healthcare Solutions Inc.
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| Issue: | Convertible senior notes
|
| Bookrunner: | Bank of America Securities
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| Co-managers | WR Hambrecht, William Blair & Co., SunTrust Robinson Humphrey and Jefferies Broadview
|
| Amount: | $75 million
|
| Greenshoe: | $7.5 million
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| Maturity: | July 15, 2024
|
| Coupon: | 3.5%
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| Price: | Par
|
| Yield: | 3.5%
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| Conversion premium: | 40%
|
| Conversion price: | $11.256
|
| Conversion ratio: | 88.8415
|
| Contingent conversion: | 130%
|
| Call: | Non-callable for 5 years
|
| Put: | In years 5, 10 and 15
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| Price talk: | 3.0-3.5%, up 38-42%
|
| Pricing date: | June 29, after the close
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| Settlement date: | July 6
|
| Distribution: | Rule 144A
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