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Convertibles Calendar: Vertex, Barclays synthetic on deck
April 23
VERTEX INC.
• $250 Million five-year convertible notes
• Coupon of 0.75% to 1.25% and initial conversion premium of 27.5% to 32.5%
• Greenshoe of $37.5 million
• Morgan Stanley & Co. LLC
• Rule 144A
• Non-callable until May 5, 2027 and then subject to a 130% hurdle
• Proceeds to cover the cost of the call spread and for general corporate purposes
• King of Prussia, Pa.-based indirect tax solutions company
BARCLAYS BANK PLC
• $350 million five-year cash-settled equity-linked notes tied to Eli Lilly Co.
• Fixed coupon of 0.25% and an initial conversion premium of 31%
• Barclays
• SEC registered
• Non-callable
• Barclays is a London-based multinational bank; Eli Lilly is an Indianapolis-based pharmaceutical company
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