By Paul A. Harris
Portland, Ore., March 1 – Alteryx, Inc. priced an upsized $450 million issue of five-year senior notes (B3/B-) at par to yield 8¾% on Wednesday, according to market sources.
The issue size increased from $350 million.
The yield printed at the tight end of the 8¾% to 9% yield talk. Early guidance was in the low-9% area.
J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the joint bookrunners.
The Irvine, Calif.-based software company plans to use the proceeds for general corporate purposes, including the potential repayment of its convertible notes. The incremental proceeds resulting from the $100 million upsizing of the deal will also be used to repay the convertibles.
| Issuer: | Alteryx, Inc.
|
| Amount: | $450 million, increased from $350 million
|
| Issue: | Senior notes
|
| Maturity: | March 15, 2028
|
| Bookrunners: | J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
|
| Coupon: | 8¾%
|
| Price: | Par
|
| Yield: | 8¾%
|
| Spread: | 449 bps
|
| First call: | March 15, 2024 at 104.375
|
| Trade date: | March 1
|
| Settlement date: | March 6
|
| Ratings: | Moody's: B3
|
| S&P: B-
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 8¾% to 9%
|
| Marketing: | Roadshow
|
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