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Convertibles Calendar: Five9, Progress Software, NextEra on deck
Feb. 27
FIVE9 INC.
$600 million five-year convertible notes
$90 million greenshoe
Coupon of 1% to 1.5% and an initial conversion premium of 27.5% to 32.5%
Rule 144A
Morgan Stanley & Co. LLC lead left
Non-callable for three years, then subject to a 130% hurdle
Proceeds to cover the cost of the call spread, to fund the repurchase of a portion of the companys 0.5% convertible notes due 2025 and for general corporate purposes
San Ramon, Calif.-based provider of cloud contact center software
NEXTERA ENERGY CAPITAL HOLDINGS INC.
$900 million three-year exchangeable notes
$100 million greenshoe
Coupon of 2.75% to 3.25% and initial conversion premium of 22.5% to 27.5%
Rule 144A
Citigroup Global Markets Inc., BofA Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and Wells Fargo Securities LLC
Non-callable
Proceeds to cover the cost of the call spread, to fund investments in energy and power projects, and for general corporate purposes, including repayment of a portion of commercial paper
Juno Beach, Fla.-based clean energy company
PROGRESS SOFTWARE CORP.
$350 million six-year convertible notes
$52.5 million greenshoe
Coupon of 3.5% to 4% and initial conversion premium of 25% to 30%
Rule 144A
J.P. Morgan Securities LLC (lead left), BofA Securities Inc., Citigroup Global Markets Inc. and Wells Fargo Securities LLC
Proceeds to cover the cost of the call spread, to repay outstanding amounts under its term loan, to repurchase up to $25 million of common stock in privately negotiated transactions with the initial purchasers of the notes and for general corporate purposes.
Burlington, Mass.-based enterprise software company
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