Priceline.com $100 million overnighter talked to yield 0.5-1.0%, up 13-18%

By Ronda Fears

Nashville, July 28 - Website travel service Priceline.com Inc. launched an overnight $100 million of seven-year convertible notes talked to yield 0.5% to 1.0% with a 13% to 18% initial conversion premium, via sole bookrunner Goldman Sachs & Co.

The Rule 144A senior unsecured notes will be non-callable for five years, with a put in year five. There is also a 110% contingent conversion trigger.

The deal has a $25 million greenshoe available.

Norwalk, Conn.-based Priceline said proceeds would be used for general corporate purposes, strategic purposes and working capital requirements.

Priceline shares closed Monday up $2.91, or 9.14%, to $34.76.

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