CrowdStrike to price $750 million eight-year notes on Wednesday; initial talk high 3% area

By Paul A. Harris

Portland, Ore., Jan. 11 – CrowdStrike Holdings, Inc. is expected to price a $750 million public offering of eight-year senior notes (Ba3) on Wednesday, according to market sources.

Initial guidance has the deal coming to yield in the high 3% area, a trader said.

J.P. Morgan Securities LLC, Barclays, BofA Securities Inc., Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are the lead bookrunners. Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., Mizuho Securities USA Inc., SVB Leerink LLC, Truist Securities Inc. and Wells Fargo Securities LLC are the joint bookrunners.

The notes come with three years of call protection.

The Sunnyvale, Calif.-based provider of cloud-delivered endpoint and cloud workload protection plans to use the proceeds for general corporate purposes, which may include, among other things, acquisitions, capital expenditures and working capital.

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