Convertibles Calendar: Cerence, World Kinect on tap

June 21

CERENCE INC.:

• $190 million five-year convertible notes

• Greenshoe of $20 million

• Coupon of 1.25% to 1.75% and initial conversion premium of 20% to 25%

• Rule 144A

• Morgan Stanley & Co. LLC and Wells Fargo Securities LLC

• Non-callable until July 6, 2026 and then subject to a 130% hurdle

• Burlington, Mass.-based AI company focused on automobiles

WORLD KINECT CORP.:

• $250 million five-year convertible notes

• Greenshoe of $37.5 million

• Coupon of 3% to 3.5% and initial conversion premium of 25% to 30%

• Rule 144A

• Morgan Stanley & Co. LLC (lead left), J.P. Morgan Securities LLC, BofA Securities Inc. and Raymond James & Associates

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

• Miami-based global energy management company

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