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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-linked 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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