Convertibles Calendar: Axon, Herbalife, Uniti on tap

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 0.05% 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

Dec. 7

UNITI GROUP INC.:

• $300 million five-year convertible notes

• $45 million greenshoe

• Coupon of 7% to 7.5% and initial conversion premium of 20% to 25%

• Non-callable until Dec. 8, 2025, then subject to a 130% hurdle

• Rule 144A

• Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC

• Cover the cost of the call spread, to fund the repurchase of the 4% notes due 2024 and for general corporate purposes

• Little Rock, Ark.-based real estate investment trust

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