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Stock Market & Financial Investment News

News Breaks
December 12, 2012
06:29 EDTPCLNpriceline.com initiated with a Neutral at Janney Capital
Target $650.
News For PCLN From The Last 14 Days
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August 26, 2014
06:16 EDTPCLNPriceline implied volatility of 18 at lower end of index mean range
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August 22, 2014
08:38 EDTPCLNTripAdvisor cut metasearch inventory in half, says FBR Capital
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August 15, 2014
05:16 EDTPCLNPriceline prices $1B senior notes offering
Priceline announced the pricing of $1B principal amount of Convertible Senior Notes due 2021 through a private offering to qualified institutional buyers. The notes will pay interest semiannually at a rate of 0.90% per annum. In certain circumstances, the notes may be converted into cash up to their principal amount, and into shares of Priceline common stock and/or cash at Priceline's election for the conversion value above the principal amount based on a conversion rate of 0.4865 shares of common stock per $1,000 principal amount of the notes. Priceline estimates that the net proceeds from the offering of notes will be approximately $990M, after deducting estimated fees and expenses. Priceline plans to use the net proceeds from the offering of the notes to repurchase approximately $147M of its outstanding common stock in privately negotiated, off-market transactions, which may be effected through the initial purchasers of the notes or their affiliates, concurrently with the consummation of the offering. Any remaining net proceeds will be used for general corporate purposes, which may include repaying outstanding debt, repurchasing additional shares of the company's common stock and corporate acquisitions.

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