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Convertibles Calendar: CalAmp to price $200 million; Redfin on tap
July 17 (post-close)
CALAMP CORP.:
• $200 million convertible notes due 2025
• Non-callable
• Concurrent capped call transaction
• Proceeds to pay the cost of the capped call, to repurchase about $25 million of shares and for working capital and general corporate purposes
• Irvine, Calif.-based wireless products company
July 18 (post-close)
REDFIN CORP:
• $125 million five-year convertible notes
• Price talk for a coupon of 1.75% to 2.25% and an initial conversion premium of 27.5% to 32.5%
• Goldman Sachs & Co., BofA Merrill Lynch and RBC Capital Markets LLC
• Greenshoe $18.75 million
• Non-callable
• Rule 144A
• Concurrent offering of 3.5 million shares of common stock
• Proceeds to be used for working capital and general corporate purposes
• Seattle-based online real estate brokerage
On The Horizon
ENCORE CAPITAL GROUP INC.:
• $125 million exchangeable notes due 2023
• $22.5 million greenshoe
• Concurrent capped call transaction
• SunTrust Robinson Humphrey Inc. and Credit Suisse Securities (USA) LLC are joint bookrunning managers
• SEC registered
• Proceeds to partially fund the acquisition of equity interests in Janus Holdings Luxembourg Sarl and Cabot Holdings Sarl
• San Diego-based specialty finance company
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