Business
Concentrix Prices $2.15 Billion Senior Notes Offering for Webhelp Combination
NEWARK, Calif., July 19, 2023 (GLOBE NEWSWIRE) -- Concentrix Corporation (the “Company”) (NASDAQ: CNXC), a leading global provider of customer experience (CX)
About this update from Concentrix Corporation
[{"type":"text","content":"NEWARK, Calif., July 19, 2023 (GLOBE NEWSWIRE) -- Concentrix Corporation (the “Company”) (NASDAQ: CNXC), a leading global provider of customer experience (CX) solutions and technology, today announced that it priced a public offering of $800 million aggregate principal amount of 6.650% Senior Notes due 2026, $800 million aggregate principal amount of 6.600% Senior Notes due 2028 and $550 million aggregate principal amount of 6.850% Senior Notes due 2033 (the “Offering”). The Company expects to use the net proceeds from the Offering, together with other debt financing and cash on hand, to fund the cash consideration payable by the Company in connection with its pending acquisition (the “Acquisition”) of Marnix Lux SA (“Webhelp Parent”), the indirect parent company of Webhelp SAS (collectively referred to herein with Webhelp Parent and Webhelp Parent’s subsidiaries as “Webhelp”), to repay existing indebtedness of Webhelp and to pay related fees and expenses in connection with the acquisition of Webhelp. The remaining proceeds, if any, will be used for general corporate purposes. The Offering is expected to close on August 2, 2023, subject to customary closing conditions. The Offering is not conditioned upon the consummation of the Acquisition. However, each series of Notes will be subject to a special mandatory redemption (at a price equal to 101% of the aggregate principal amount of such series of Notes) if the Acquisition does not close prior to a certain date or the Share Purchase and Contribution Agreement related to the Acquisition is terminated without the consummation of the Acquisition. J.P. Morgan Securities LLC, BofA Securities, Inc., HSBC Securities (USA) Inc., MUFG Securities Americas Inc., PNC Capital Markets LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., TD Securities (USA) LLC, Truist Securities, Inc., U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC are acting as joint book-running managers for the Offering. The Offering will be made pursuant to an effective shelf registration statement, previously filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”). Before investing, you should read the prospectus supplement and accompanying prospectus relating to and describing the terms of the Offering, as well as other documents the Company has filed with the SE...