By Wendy Van Sickle
Columbus, Ohio, July 20 – Optiva Inc. closed a private placement of $90 million of 9¾% five-year secured PIK toggle debentures, according to a news release.
The debentures are guaranteed by some of the company's subsidiaries and constitute senior secured obligations of the company.
Proceeds were used to finance the redemption of all of Optiva’s series A preferred shares.
The financing consisted of a non-brokered private placement and a marketed brokered private placement led by CIBC Capital Markets.
Based in Toronto, the company provides cloud service providers with cloud-native revenue management software.
| Issuer: | Optiva Inc.
|
| Issue: | Secured PIK toggle debentures
|
| Amount: | $90 million
|
| Maturity: | Five years
|
| Agent: | CIBC Capital Markets
|
| Coupon: | 9¾%
|
| Distribution: | Private placement
|
| Settlement date: | July 20
|
|
|
© 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.
