Commvault Systems To Offer $750 Mln Of Sr. Notes

(RTTNews) - Commvault Systems, Inc. (CVLT) Tuesday said that it intends to offer $750 million of convertible senior notes due 2030.

Commvault also expects to grant to the initial purchasers of the notes an option to purchase up to an additional $112.5 million of notes.

The company intends to use a portion of the proceeds from the offering to fund cost of the capped call transactions, which Commvault plans to enter into in connection with the notes offering, up to about $125 million to buy back its shares, and the remaining proceeds for general corporate purposes.