Nuance Prices $300 Million Offering of Senior Notes
June 14 2016 - 8:00PM
Business Wire
Nuance Communications, Inc. (NASDAQ: NUAN) today announced the
pricing of an offering of $300.0 million aggregate principal amount
of its 6.000% senior notes due 2024 (the “Notes”). The Notes are
being offered to qualified institutional buyers pursuant to Rule
144A under the Securities Act of 1933, as amended (the “Securities
Act”), and outside the United States to non-U.S. persons pursuant
to Regulation S under the Securities Act. The Notes will be fully
and unconditionally guaranteed on a senior, unsecured basis by
Nuance’s domestic subsidiaries that guarantee its senior credit
facility. The sale of the Notes is expected to close on June 21,
2016, subject to the satisfaction of customary closing
conditions.
The Notes will mature on July 1, 2024, unless earlier
repurchased or redeemed. Interest on the Notes will accrue at a
rate of 6.000% per year, and will be payable in cash semi-annually
in arrears, beginning on January 1, 2017.
The aggregate net proceeds to Nuance from the offering of the
Notes will be approximately $297.5 million. Nuance intends to use
the net proceeds for general corporate purposes, including working
capital and capital expenditures, and may also use a portion of the
net proceeds to fund possible investments in and acquisitions of
complementary businesses, products or technologies.
This announcement is neither an offer to sell nor a solicitation
to buy any of the foregoing securities, nor shall there be any sale
of the securities, in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
The Notes will not be registered under the Securities Act, or
any state securities laws, and may not be offered or sold in the
United States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state securities
laws.
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version on businesswire.com: http://www.businesswire.com/news/home/20160614006484/en/
For Investors and MediaNuance Communications, Inc.Richard
Mack, 781-565-5000richard.mack@nuance.com
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