Finisar Prices $225 Mln Offering Of Convertible Senior Notes Due 2033

(RTTNews) - Finisar Corp. (FNSR) announced the pricing of offering of $225 million of 0.50% Convertible Senior Notes due 2033 to qualified institutional buyers. The company stated that it has increased the size of the offering from $200 million to $225 million. The offering is expected to close on December 16, 2013.

Finisar has granted initial purchaser of Notes a 30-day option to buy up to an additional $33.75 million of Notes on same terms to cover over-allotments.

Finisar expects to use offering net proceeds for general corporate purposes, including working capital, and may also use a portion of the net proceeds to acquire complementary businesses, products or technologies.

The company said that the Notes will be unsecured, senior obligations of Finisar. Interest on the Notes will be paid semi-annually at a rate of 0.50% per annum, and the Notes will mature on December 15, 2033, unless earlier repurchased, redeemed or converted.

Holders may require Finisar to redeem the Notes for cash on December 15, 2018, December 15, 2023 and December 15, 2028 at a redemption price equal to the principal amount thereof plus accrued and unpaid interest to, but excluding, the redemption date.