Convertibles Calendar: Akamai on tap

Aug. 15

AKAMAI TECHNOLOGIES INC.

• $1 billion long five-year convertible notes

• $150 million greenshoe

• Coupon of 1.125% to 1.625% and initial conversion premium of 22.5% to 27.5%

• Non-callable

• Rule 144A

• Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and BofA Securities Inc.

• Proceeds to cover the cost of the hedge transactions, repurchase about $68 million in common stock from the initial purchasers of the notes in privately negotiated transactions, and repay at maturity a portion of the $1.15 billion outstanding of its 0.125% convertible notes due May 1, 2025 or cover cash amounts due upon their early conversion

• Cambridge, Mass.-based content delivery network and cloud service provider

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