Plantronics Reports 4 Mln Share Buyback Authorization

(RTTNews) - Plantronics, Inc. (PLT) said it has authorized the repurchase of an additional 4 million shares of its common stock. Under the new share repurchase authorization, Plantronics may from time to time purchase shares of its common stock, depending upon market conditions, in open market or privately negotiated transactions.

Separately, the company announced the pricing of an offering of $500 million aggregate principal amount of 5.500 percent senior notes due 2023. The sale of the notes is expected to close on May 27.

Interest on the notes will be payable in cash semi-annually in arrears, beginning on November 15. The notes will mature on May 31, 2023 unless earlier repurchased or redeemed.