Jarden raises $690 million in private offering of convertible notes - MarketLine Financial Deals

Jarden raises $690 million in private offering of convertible notes

Jarden raises $690 million in private offering of convertible notes - MarketLine Financial Deals
Jarden raises $690 million in private offering of convertible notes
Published Mar 17, 2014
3 pages — Published Mar 17, 2014
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Abstract:

Jarden Corporation, a US-based consumer products company, has completed a private offering of $690 million in aggregate principal amount of senior subordinated convertible notes due 2034, including $90 million sold pursuant to the initial purchasers? option.

Update March 12, 2014:
Jarden has priced its $600 million in aggregate principal amount of senior subordinated convertible notes due 2034 in a private offering to qualified institutional buyers.

The convertible notes will pay interest semiannually at a rate of 1.125% per annum. Upon conversion, holders will receive, at Jarden's discretion, cash and shares of Jarden's common stock or a combination thereof. The conversion rate will be 13.3583 shares of the Company's common stock per $1,000 principal amount of the convertible notes, which is equivalent to a conversion price of approximately $74.86 per share, which represents a conversion premium of 22.50% to the closing sale price of $61.11 per share of Jarden's common stock on March 11, 2014.

The transaction is expected to close on March 17, 2014.

Announcement (March 11, 2014):
Jarden has agreed to offer $600 million in aggregate principal amount of senior subordinated convertible notes due 2034 in a private offering.

In connection with the offering, Jarden intends to grant the initial purchasers an option to purchase up to an additional $90 million in aggregate principal amount of the senior subordinated convertible notes.

  
Source:
Document ID
MA145577_140404
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Ticker
JAH=US
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MarketLine Financial Deals—MarketLine Financial Deals – Identifying and tracking major financial activity across our full scope of company and sector coverage, MarketLine Financial Deals covers mergers & acquisitions, private equity/venture capital backed buyouts, investments, and exits, IPOs and secondary and follow on offerings, and private placements and exits. Additional non-corporate financial deals including partnership agreements, joint ventures, co-development and research, licensing and co-marketing agreements are also available.

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MLA:
MarketLine Financial Deals. "Jarden raises $690 million in private offering of convertible notes" Mar 17, 2014. Alacra Store. Dec 04, 2016. <http://www.alacrastore.com/storecontent/MarketLine-Financial-Deals/Jarden-raises-690-million-in-private-offering-of-convertible-notes-2052-101148>
  
APA:
MarketLine Financial Deals. (2014). Jarden raises $690 million in private offering of convertible notes Mar 17, 2014. New York, NY: Alacra Store. Retrieved Dec 04, 2016 from <http://www.alacrastore.com/storecontent/MarketLine-Financial-Deals/Jarden-raises-690-million-in-private-offering-of-convertible-notes-2052-101148>
  
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