Dynatrace (DT) unit Dynatrace LLC priced a private offering of $1.25 billion of 0% exchangeable senior unsecured notes due Sept. 1, 2031, the company said Tuesday.
Initial purchasers have an overallotment option to buy up to an additional $187.5 million of notes.
The company expects the sale of the notes to the initial purchasers to settle Thursday and is estimated to result in about $1.23 billion in net proceeds.
Dynatrace plans to use roughly $145.9 million of the net proceeds to pay the cost of certain exchangeable note hedge transactions, among other things, it said.
The company's shares were up 2% in premarket activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.