Compass, Inc. (NYSE: COMP) announced today the pricing of an $850 million convertible senior notes offering, an increase of $100 million over the previously announced size. The notes, due April 15, 2031, carry a 0.25% annual interest rate and an initial conversion rate of 62.5626 shares per $1,000 principal, equivalent to a conversion price of approximately $15.98 per share. The company stated that the net proceeds will be used for general corporate purposes, including repayment of certain indebtedness related to its pending merger with Anywhere Real Estate and funding the net cost of entering into capped call transactions. The offering is senior unsecured and is jointly and severally guaranteed by Compass’s subsidiaries that guarantee its existing revolving credit facility.
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