OSI Systems Plans To Offer $400 Mln Of Convertible Senior Notes

(RTTNews) - OSI Systems, Inc. (OSIS), Monday announced its decision to offer $400 million of convertible senior notes due 2031.

The company intends to use upto approximately $175 million of the proceeds to repurchase shares of its common stock, and the remainder amount to repay a portion of the revolving credit facility outstanding, pay related fees and expenses, and for other general corporate purposes.

Additionally, the company intends to grant the initial purchasers of the notes an option to purchase upto an additional $60 million principal amount of notes.

In the pre-market hours, OSIS is trading at $272, down 0.57 percent on the Nasdaq.