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Convertibles Calendar: BlackBerry, BrightSpring on deck
Jan. 24
BLACKBERRY LTD.
$160 million five-year convertible notes
$25 million greenshoe
Coupon of 2.75% to 3.25% and initial conversion premium of 30% to 35%
Non-callable for three years and then subject to a 130% hurdle
Rule 144A
Morgan Stanley & Co. LLC
Proceeds to fund the repayment or repurchase of the companys outstanding $150 million 1.75% extendible convertible debentures due Feb. 15, 2024
Waterloo, Ont.-based security software and services provider
Jan. 25
BRIGHTSPRING HEALTH SERVICES INC.
$400 million three-year $50-par tangible equity units
$60 million greenshoe
Dividend of 6.25% to 6.75% and threshold appreciation premium of 17.5% to 22.5%
Non-callable until Nov. 1, 2024
SEC registered
Goldman Sachs & Co. LLC (lead left), KKR & Co. Inc., Jefferies LLC, Morgan Stanley & Co. LLC, UBS Securities LLC, BofA Securities Inc., Guggenheim Partners and Leerink Partners
Concurrent IPO of 53.3 million shares talked at $15 to $18 per share
Proceeds to repay all outstanding debt under its second-lien facility and revolving credit facility and the $652 million outstanding under its first-lien facility
Louisville, Ky.-based home and community-based health services provider
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