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Technology Stocks : Nuance Communications, Inc.
NUAN 14.91-0.7%5:20 PM EDTNews

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From: Sr K11/30/2015 9:08:41 PM
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4:02 pm Nuance Communications announces $550 mln offering of Senior Convertible Debentures due 2035 (NUAN) :

Co intends to use ~$472 mln of the net proceeds from this offering to repay all outstanding term loans under its existing senior credit facility.

Co intends to use cash on hand and remaining net proceeds to repurchase ~$200 mln of shares of its common stock concurrently with the pricing of the Debentures in negotiated transactions with institutional investors in the offering through one of the initial purchasers, as Co's agent, subject to availability, and to repurchase or refinance other existing debt.
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