By Rebecca Melvin
New York, Dec. 11 - Oclaro Luxembourg SA, a subsidiary of Oclaro Inc., priced $25 million of 5.5-year exchangeable senior secured second-lien notes to yield 7.5% with an initial conversion premium of 30%, according to a syndicate source.
The Rule 144A deal was sold via bookrunner Morgan Stanley & Co. LLC.
Proceeds are earmarked for general corporate purposes, including working capital, and including acquisitions or investments in complementary businesses, products or technologies.
The indenture governing the notes includes covenants restricting the ability of the company and some subsidiaries to incur debt, to make restricted payments, to create liens, to sell or dispose of assets and to enter into mergers or corporate transactions.
Based in San Jose, Calif., Oclaro manufactures optical components, modules and subsystems used in telecommunications, data communications, aerospace and industry.
| Issuer: | Oclaro Luxembourg SA
|
| Guarantor: | Oclaro Inc.
|
| Issue: | Exchangeable senior second-lien notes
|
| Amount: | $25 million
|
| Maturity: | June 15, 2018
|
| Bookrunner: | Morgan Stanley & Co. LLC
|
| Coupon: | 7.5%
|
| Yield: | 7.5%
|
| Conversion premium: | 30%
|
| Conversion price: | $1.846
|
| Conversion ratio: | 541.7118
|
| Pricing date: | Dec. 10, after close
|
| Settlement date: | Dec. 14
|
| Distribution: | Rule 144A
|
| Stock symbol: | Nasdaq: OCLR
|
| Stock price: | $1.42 at close Dec. 10
|
| Market capitalization: | $136.2 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
