HomeAway to raise $350M debt financing

Mar 25, 2014
Austin Business Journal

HomeAway Inc. disclosed Monday its plans to offer $350 million in convertible senior notes due 2019 through a private placement




The Austin-based company also expects to grant the initial purchasers of the notes a 30-day option to buy up to an additional $52.5 million in notes to cover over-allotments, if any, officials said in a news release




In connection with the offering of the notes, HomeAway expects to enter into privately negotiated convertible note hedge transactions with financial institutions that may include some of the initial purchasers and affiliates




HomeAway (Nasdaq: AWAY), founded in early 2005, operates websites listing vacation home rentals. It employs about 1,542 workers, including 612 outside the United States




Earlier this month, HomeAway acquired Florida-based Glad to Have You Inc., the developer of mobile guest management software designed to enable users to manage and communicate with guests during their stay




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