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Convertibles Calendar: Akamai, Workiva on tap
Aug. 14
WORKIVA INC.
$625 million five-year convertible notes, upsized from $525 million
$93.75 million greenshoe, upsized from $75 million
Coupon of 1% to 1.25% and an initial conversion premium of 30%, tightened from coupon of 1% to 1.5% and an initial conversion premium of 25% to 30%
Non-callable for three years and then subject to a 130% hurdle
Rule 144A
Goldman Sachs & Co. LLC
Proceeds to fund the repurchase of a portion of the companys 1.125% notes due 2026 in privately negotiated transactions and for general corporate purposes
New York-based financial reporting software company
Aug. 15
AKAMAI TECHNOLOGIES INC.
$1 billion long five-year convertible notes
$150 million greenshoe
Coupon of 1.125% to 1.625% and initial conversion premium of 22.5% to 27.5%
Non-callable
Rule 144A
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and BofA Securities Inc.
Proceeds to cover the cost of the hedge transactions, repurchase about $68 million in common stock from the initial purchasers of the notes in privately negotiated transactions, and repay at maturity a portion of the $1.15 billion outstanding of its 0.125% convertible notes due May 1, 2025 or cover cash amounts due upon their early conversion
Cambridge, Mass.-based content delivery network and cloud service provider
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