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Prospect News home > News index > List of issuers S > Headlines for Sybase, Inc. > News item |
Sybase to call its 1.75% convertibles due 2025 with proceeds from convertible offering due 2029
By Susanna Moon
Chicago, July 28 - Sybase, Inc. said it plans to call its 1.75% convertible subordinated notes due 2025 in March 2010 with proceeds from a $250 million offering of convertible senior notes due Aug. 15, 2029.
The convertibles are callable beginning Aug. 20, 2014 at par plus accrued interest to the redemption date. They are putable on Aug. 15, 2014, Aug. 15, 2019 and Aug. 15, 2024 at par plus accrued interest to the purchase date.
Sybase expects to grant a 30-day over-allotment option for an additional $50 million principal amount of notes.
The issuer is a Dublin, Calif.-based wireless software company for mobile and wi-fi technologies and Linux server software developer.
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