Zillow to repurchase some 2% convertibles due 2021 with proceeds of new convertibles, shares

By Rebecca Melvin

New York, May 12 – Zillow Group Inc. is planning to buy back a portion of its outstanding 2% convertible senior notes due 2021 with the proceeds of new shares and convertibles, according to a company news release on Tuesday.

The company announced it is offering concurrent issues of $500 million of class C shares and $500 million of convertible senior notes due 2025.

The proceeds will also be used for general corporate purposes, including general and administrative matters and capital expenditures, as well as possible acquisitions of businesses, products or technologies.

Zillow priced $460 million of the 2% convertibles in December 2016.

Zillow is a Seattle-based real estate search company.

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