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Convertibles Calendar: Priceline to price $1 billion convertibles
AUGUST 14
PRICELINE GROUP INC.:
• Up to $1 billion convertible senior notes
• $150 million greenshoe
• Matures 2021
• Price talk 0.75%-0.9%, up 60%
• Rule 144A
• Pricing late Wednesday
• Joint bookrunners Citigroup Global Markets Inc. and Wells Fargo Securities LLC
• Proceeds to repurchase common shares and for general corporate purposes
• Takeover and dividend protection
• Non-callable with no puts
• Norwalk, Conn.-based online travel agency
• Nasdaq: PCLN
On The Horizon
UTTAM STRIPS LTD.:
• $200 million of 10-year convertible bonds
• To yield 6%-8%
• Private placement via U.S.-based private equity fund Exhilway Global as sole agent for placing the bond
• Proceeds to repay Indian bank liabilities and for possible acquisitions
• New Delhi-based metal home products manufacturer
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