Interactive Intelligence offers $150 million five-year convertibles at 1.25%-1.75%, up 27.5%-32.5%

By Rebecca Melvin

New York, May 18 – Interactive Intelligence Group Inc. plans to price $150 million of five-year convertible senior notes after the market close on Tuesday that were talked to yield 1.25% to 1.75% with an initial conversion premium of 27.5% to 32.5%, according to market sources.

The Rule 144A deal has a $22.5 million greenshoe and was being sold via bookrunning managers Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and RBC Capital Markets LLC.

The notes are non-callable with no puts. They will be settled in cash, stock or a combination. In connection with the pricing of the notes, the company plans to enter into capped call transactions with one or more initial purchasers of the notes.

A portion of the proceeds will be used to pay the net cost of the capped call transactions with remaining proceeds for working capital and general corporate purposes.

Indianapolis-based Interactive Intelligence is a communications software and cloud services company.

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