Convertibles Calendar: Twitter on deck

March 1

TWITTER INC:

• $1.25 billion five-year convertible notes

• Fixed coupon of 0% and initial conversion premium of 65% to 70%

• Greenshoe of $187.5 million

• Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC

• Rule 144A

• Proceeds to cover the cost of convertible hedge transactions and cover amounts due upon conversion or maturity of its 1% convertible notes due Sept. 15, 2021

• San Francisco-based social networking service

SHAKE SHACK INC:

• $225 million seven-year convertible notes

• Coupon of 0% to 0.25% and initial conversion premium of 40% to 45%

• Greenshoe of $25 million

• Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC

• Rule 144A

• Non-callable for four years and then subject to a 130% hurdle

• Proceeds to support growth and development, for working capital and for other general corporate purposes

• New York-based fast food restaurant chain

MANNKIND CORP.:

• $150 million five-year convertible notes

• Coupon of 2.25% to 2.75% and initial conversion premium of 27.5% to 32.5%

• Greenshoe of $22.5 million

• J.P. Morgan Securities LLC and SVB Leerink LLC

• Rule 144A

• Non-callable for three years and then subject to a 130% hurdle

• Proceeds for general corporate purposes, including funding clinical trials, repaying debt, and for potential acquisitions and strategic investments.

• Westlake Village, Calif.-based biopharmaceutical company

March 2

CABLE ONE INC.:

• $600 million two-tranche offering; $400 million tranche of five-year convertible notes and $200 million tranche of seven-year convertible notes

• 2026 notes: Fixed coupon of 0% and initial conversion premium of 25% to 30%

• 2028 notes: Coupon of 0.75% to 1.25% and initial conversion premium of 25% to 30%

• Greenshoe of $60 million on 2026 notes; greenshoe of $30 million on 2028 notes

• J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, BofA Securities Inc., and Wells Fargo Securities LLC

• Rule 144A

• Non-callable for four years and then subject to a 130% hurdle

• Proceeds for general corporate purposes, including to finance a portion of the company’s acquisition of the equity interests in Hargray Acquisition Holdings LLC

• Phoenix-based broadband communications provider

HAEMONETICS CORP.:

• $425 billion five-year convertible notes

• Coupon of 0% to 0.5% and initial conversion premium of 40% to 45%

• Greenshoe of $63.75 million

• Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BofA Securities Inc. and U.S. Bancorp Investments Inc.

• Rule 144A

• Non-callable until March 5, 2024 and then subject to a 130% hurdle

• Proceeds to cover the cost of the call spread, to reduce the amount of debt under the company’s corporate credit facility and for general corporate purposes

• Boston-based provider of blood and plasma supplies and services

CERIDIAN HCM HOLDING INC.:

• $500 million five-year convertible notes

• Coupon of 0% to 0.5% and initial conversion premium of 47.5% to 52.5%

• Greenshoe of $75 million

• Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, BofA Securities Inc., Deutsche Bank Securities Inc. and Citigroup Global Markets Inc.

• Rule 144A

• Non-callable for three years and then subject to a 130% hurdle

• Proceeds to cover the cost of the call spread, to repay $295 million of the principal amount of the company’s senior credit facilities and for general corporate purposes, which may include potential acquisitions or strategic investments

• Minneapolis-based human resources software company

BEYOND MEAT INC.:

• $750 million six-year convertible notes

• Fixed coupon of 0% and initial conversion premium of 47.5% to 52.5%

• Greenshoe of $112.5 million

• J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Credit Suisse Securities (USA) LLC

• Rule 144A

• Non-callable until March 20, 2024 and then subject to a 130% hurdle

• Proceeds to cover the cost of the call spread and for general corporate purposes

• El Segundo, Calif.-based plant-based food company

PENNYMAC CORP.:

• $200 million five-year notes exchangeable for PennyMac Mortgage Investment Trust stock

• Coupon of 5.25% to 5.75% and initial conversion premium of 12.5% to 17.5%

• Greenshoe of $30 million

• Credit Suisse Securities (USA) LLC, BofA Securities Inc., Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC

• Rule 144A

• Non-callable

• Proceeds general corporate purposes, which may include the repayment of debt and the investment in mortgage servicing rights

• Westlake Village, Calif.-based mortgage real estate investment trust

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