NEW YORK (S&P Global Ratings) April 6, 2021--S&P Global Ratings today said that Verint Systems Inc.'s (BB/Stable/--) announced share repurchase transaction is modestly leveraging. The company intends to issue $250 million of new convertible senior notes due 2026 (unrated) to repay a portion of existing first-lien term loan and interest rate swap, and to repurchase 1.6 million shares of its common stock (about $75 million) and the remainder for working capital and general corporate purposes. We continue to anticipate adjusted leverage in the mid-2x area by the end of fiscal year ending March 31, 2022, as the company benefits from greater cloud adoption. Over the next 12 months we expect low- to mid-single-digit percent revenue growth, which is lower than
