Convertibles Calendar: Rocket Lab, Barclays on deck

Feb. 1

ROCKET LAB USA INC.

• $275 million five-year convertible notes

• $41.25 million greenshoe

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

• Non-callable until Feb. 1, 2027 and then subject to a 130% hurdle

• Rule 144A

• Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC

• Proceeds to cover the cost of the call spread, to repay a portion of borrowings from its equipment financing agreement and for general corporate purposes, which may include potential acquisitions or strategic transactions

• Long Beach, Calif.-based aerospace manufacturer

BARCLAYS BANK PLC

• $250 million five-year cash-settled equity-lined notes tied to Microsoft Corp.

• $37.5 million greenshoe

• Coupon of 1% and initial conversion premium of 30%

• Non-callable

• SEC registered

• Barclays

• Proceeds to repurchase up to $225 million of Barclays’ 0% cash-settled notes tied to Microsoft due 2025

• Barclays is a London-based multinational investment bank and financial services company; Microsoft is a Redmond, Wash.-based technology company.

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