Reported Earlier, Varonis Systems Prices Upsized $400M Of 1.00% Convertible Senior Notes Due 2029
Portfolio Pulse from Benzinga Newsdesk
Varonis Systems has priced an upsized $400 million offering of 1.00% convertible senior notes due 2029. These notes are unsecured senior obligations and will mature on September 15, 2029, with interest payable semiannually starting March 15, 2025.
September 06, 2024 | 6:40 am
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Varonis Systems has issued $400 million in convertible senior notes at a 1.00% interest rate, maturing in 2029. This move could provide the company with additional capital for growth or debt refinancing.
The issuance of convertible notes provides Varonis Systems with significant capital, which can be used for growth initiatives or to refinance existing debt. The low interest rate of 1.00% is favorable, suggesting confidence in the company's financial stability. This could positively impact the stock price in the short term as it indicates strategic financial management.
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