SolarEdge Technologies Reports Pricing Of $300M Of 2.25% Convertible Senior Notes Due 2029 In Private Offering
Portfolio Pulse from Benzinga Newsdesk
SolarEdge Technologies has announced the pricing of $300 million of 2.25% convertible senior notes due 2029 in a private offering. The initial purchasers have a 13-day option to buy an additional $45 million of the notes. The sale is expected to settle on June 28, 2024, subject to customary closing conditions.
June 26, 2024 | 11:03 am
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SolarEdge Technologies has priced $300 million of 2.25% convertible senior notes due 2029 in a private offering, with an option for initial purchasers to buy an additional $45 million. The sale is expected to settle on June 28, 2024.
The issuance of convertible senior notes can provide SolarEdge with additional capital, which may be used for growth initiatives or debt repayment. The relatively low interest rate of 2.25% is favorable, and the option for initial purchasers to buy more notes indicates strong demand. This is likely to be viewed positively by investors in the short term.
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