Guidewire Software, Inc. announced its intention to offer $500.0 million aggregate principal amount of convertible senior notes due 2029 in a private offering. The company also expects to grant initial purchasers an option to purchase up to an additional $75.0 million aggregate principal amount of notes.
The notes will be senior, unsecured obligations maturing on November 1, 2029, with interest payable semi-annually. Guidewire intends to use a portion of the net proceeds to fund capped call transactions and retire a portion of its outstanding 1.25% Convertible Senior Notes due March 2025. The remaining proceeds are designated for general corporate purposes, which may include the redemption of the remaining outstanding 2025 Notes.
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