Evergy Prices Upsized Convertible Notes Offering of $1.2B (Prior $1.1B)

Author: Benzinga Newsdesk | December 05, 2023 03:54am

Evergy, Inc. (NASDAQ:EVRG) ("Evergy" or the "Company") announced the pricing of its private offering of $1,200,000,000 aggregate principal amount of its convertible notes due 2027 (the "Notes") in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), reflecting an upsize of $100 million over the previously announced offering size. The Company also granted the initial purchasers of the Notes an option to purchase, within a 13-day period beginning on, and including, the initial closing date of the offering, up to an additional $200,000,000 aggregate principal amount of the Notes. The sale of the Notes to the initial purchasers is expected to settle on or about December 7, 2023, subject to customary closing conditions, and is expected to result in approximately $1,180.9 million in net proceeds to the Company, after deducting the initial purchasers' discount and estimated offering expenses payable by the Company (assuming no exercise of the initial purchasers' option to purchase additional Notes).

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