Dialog Semiconductor launches $185 million five-year convertibles to yield 1.25%-1.75%, up 30%-35%

By Rebecca Melvin

New York, March 8 - Dialog Semiconductor plc launched a $185 million offering of five-year convertible bonds, which were talked at a yield of 1.25% to 1.75% and an initial conversion premium of 30% to 35%, according to a news release.

The Regulation S bonds were seen pricing at par late Thursday via Barclays Capital Inc. as bookrunner.

The securities are non-callable for three years and then provisionally callable subject to a 130% price hurdle.

Proceeds will be used for general corporate purposes and potential acquisitions.

Application will be made to list and trade the bonds on the Luxembourg Stock Exchange.

Based in Stuttgart, Germany, Dialog is an integrated circuit maker.

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