New Issue: Symantec upsized $525 mln convertibles yield 3.0%, up 30%

By Ronda Fears

Nashville, Tenn., Oct. 19 - Symantec Corp. sold $525 million of five-year convertibles, boosted from $425 million, at par to yield 3.0% with a 30% initial conversion premium. Credit Suisse First Boston was lead manager of the Rule 144A deal.

Cupertino, Calif.-based Symantec, a content and network solutions firm, said proceeds would be used for general corporate purposes, including working capital, potential acquisitions, stock repurchases and investments in the company's infrastructure.

Terms of the new deal are:

Issuer: Symentec Corp

Amount: $525 million

Greenshoe: $75 million

Lead Manager: Credit Suisse First Boston

Maturity Date: Nov. 1, 2006

Coupon: 3.0%

Issue Price: par

Yield-to-maturity: 3.0%

Conversion Premium: 30%

Conversion Price: $68.28

Conversion Ratio: 14.6456

Call: non-callable for three years

Put: no

Contingent Conversion: no

Settlement Date: Oct. 24

End

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