Convertibles Calendar: Axon, Lantheus, Marriott Vacations, Herbalife on tap

Dec. 5

LANTHEUS HOLDINGS INC.:

• $500 million five-year convertible notes

• $75 million greenshoe

• Coupon of 2.625% to 3.125% and initial conversion premium of 37.5% to 42.5%

• Non-callable for three years, then subject to a 130% hurdle

• Rule 144A

• BofA Securities Inc., SVB Securities, BMO Capital Markets Corp., JMP Securities LLC, Truist Securities

• Repurchase up to $75 million in common stock and for general corporate purposes, which may include additional stock repurchases up to $75 million

• North Billerica, Mass.-based medical diagnostics company

MARRIOTT VACATIONS WORLDWIDE CORP.:

• $500 million five-year convertible notes

• $75 million greenshoe

• Coupon of 3.25% to 3.75% and initial conversion premium of 27.5% to 32.5%

• Non-callable for three years, then subject to a 130% hurdle

• Rule 144A

• BofA Securities Inc., J.P. Morgan Securities LLC, Truist Securities Inc., Credit Suisse Securities (USA) LLC and Wells Fargo Securities LLC

• Cover the call spread, redeem the company’s outstanding 6.125% senior secured notes due 2025 at a redemption price of 103.063, repay a portion of borrowings under its revolving credit facility and repurchase up to $55 million in common stock.

• Orlando, Fla.-based global vacations company

Dec. 6

HERBALIFE NUTRITION LTD.:

• $250 million 5.5-year convertible notes

• $37.5 million greenshoe

• Coupon of 3.75% to 4.25% and initial conversion premium of 27.5% to 32.5%

• Non-callable until June 15, 2026, then subject to a 130% hurdle

• Rule 144A

• BofA Securities Inc. and Mizuho Securities USA Inc.

• Repurchase a portion of its 2.625% convertible notes due 2024 in privately negotiated transactions and for general corporate purposes

• Los Angeles-based dietary supplement company

AXON ENTERPRISE INC.:

• $500 million five-year convertible notes

• $75 million greenshoe

• Coupon of 0.5% to 1% and initial conversion premium of 27.5% to 32.5%

• Non-callable for three years then subject to a 130% hurdle

• Rule 144A

• Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC

• Cover the cost of the call spread and for general corporate purposes, which may include acquisitions

• Scottsdale, Ariz.-based global public safety technology company

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