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Post by alexbucks on Dec 12, 2016 21:16:36 GMT -5
STAMFORD, Conn.--(BUSINESS WIRE)-- World Wrestling Entertainment, Inc. (NYSE:WWE) today announced its intention to offer, subject to market conditions and other factors, $175 million aggregate principal amount of convertible senior notes due 2023 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Act”). WWE also expects to grant the initial purchasers of the notes a 30-day option to purchase up to an additional $26.25 million aggregate principal amount of the notes. The notes will be unsecured, senior obligations of WWE and interest will be payable semi-annually in arrears. The notes will be convertible into cash, shares of WWE’s Class A common stock or a combination thereof, at WWE’s election. The interest rate, conversion rate and other terms of the notes are to be determined upon pricing of the offering. WWE expects to use a portion of the net proceeds of the offering of the notes to support the execution of the company’s long-term growth strategy and for general corporate purposes. In addition, part of the proceeds will be used to pay the cost of the convertible note hedge transactions described below (after such cost is partially offset by the proceeds to WWE from the warrant transactions described below). www.businesswire.com/news/home/20161212005968/en/WWE-Announces-175-Million-Convertible-Notes-OfferingWhat on earth do WWE need up to $200 million dollars for, buying ROH?
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Post by RKing85 on Dec 12, 2016 23:07:44 GMT -5
can somebody dumb that down for me?
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deezy
Misawa
Posts: 2,334
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Post by deezy on Dec 12, 2016 23:25:40 GMT -5
Maybe they're going to build an office or even another performance centre somewhere in China?
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Post by alexbucks on Dec 12, 2016 23:53:44 GMT -5
can somebody dumb that down for me? Sure:WWE is borrowing at least $175 million and up to $201 million through an Unsecured Bond offering that's private-limited to only financial institutions (such as Hedge funds,Pension plans,Mutual Funds,etc) (no average Joe's and John's). Unsecured means WWE is putting no assets up on the line in case of a default. The convertible stipulation means WWE can repay in 2023 with cash,WWE Stock or a combination of cash & WWE Stock. As financial Bonds in America means this link is great understanding: www.diffen.com/difference/Bond_vs_Stock
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deezy
Misawa
Posts: 2,334
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Post by deezy on Dec 13, 2016 5:00:15 GMT -5
So basically the company is looking to gamble some money without toiching the nest egg.
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Post by alexbucks on Dec 13, 2016 17:33:04 GMT -5
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Post by RKing85 on Dec 14, 2016 22:42:25 GMT -5
can somebody dumb that down for me? Sure:WWE is borrowing at least $175 million and up to $201 million through an Unsecured Bond offering that's private-limited to only financial institutions (such as Hedge funds,Pension plans,Mutual Funds,etc) (no average Joe's and John's). Unsecured means WWE is putting no assets up on the line in case of a default. The convertible stipulation means WWE can repay in 2023 with cash,WWE Stock or a combination of cash & WWE Stock. As financial Bonds in America means this link is great understanding: www.diffen.com/difference/Bond_vs_Stockthanks.
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