Hub Spot and Splunk roll over fortunes into new CBs

摘要

HUBSPOT, the CRM-focused software-as-a-service provider, is the latest company in the sector to deal with the problem of funding the repurchase of a deep-in-the-money CB with a new CB. HubSpot shares spiked 7.4% to US$214.66 on Monday while the company marketed the new US$400m five-year CB and simultaneously negotiated repurchases of a portion of the US$400m, 0.25% CB that matures in June 2022 and is convertible at prices above US$94.77. The outstanding bonds were bid at 209.9 on May 29 ahead of the offer.