Convertibles Calendar: Virgin Galactic on tap

Jan. 13

VIRGIN GALACTIC HOLDINGS INC.:

• $425 million five-year convertible notes

• Greenshoe of $75 million

• Coupon of 2% to 2.5% and initial conversion premium of 27.5% to 32.5%

• Credit Suisse Securities (USA) LLC

• Non-callable until Feb. 6, 2025 and then subject to a 130% hurdle

• Rule 144A

• Proceeds to fund the call spread, for capital expenditures for the development of its spacecraft fleet and for general corporate purposes

• Las Cruces, N.M.-based aerospace and space travel company

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