By Paul A. Harris
Portland, Ore., June 30 – Elastic NV priced an upsized $575 million issue of eight-year senior notes (B1/B+) at par to yield 4 1/8% on Wednesday, according to market sources.
The issue size increased from $500 million.
The yield printed at the tight end of yield talk in the 4¼% area. Initial guidance was in the high-4% to 5% area.
J.P. Morgan Securities LLC was at the left of a syndicate of bookrunners that also included Morgan Stanley & Co. LLC, Barclays and Citigroup Global Markets Inc.
The Mountain View, Calif.-based search company plans to use the proceeds for general corporate purposes, including capital expenditures and investments, as well as for working capital, possible acquisitions and strategic transactions.
| Issuer: | Elastic NV
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| Amount: | $575 million, increased from $500 million
|
| Maturity: | July 15, 2029
|
| Securities: | Senior notes
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| Bookrunners: | J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Barclays and Citigroup Global Markets Inc.
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| Coupon: | 4 1/8%
|
| Price: | Par
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| Yield: | 4 1/8%
|
| Call protection: | Three years
|
| Trade date: | June 30
|
| Settlement date: | July 6
|
| Ratings: | Moody's: B1
|
| S&P: B+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 4¼% area
|
| Marketing: | Roadshow
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