IFR US ECM Pricings
Avnet (US, electronics distributor) ─ $550m 5y cvt priced at 1.75%, up 35% versus 1.75%-2.25% and 30%-35% marketing. JPM, BNPP. Upsized from $500m. Concurrent $100m share repurchase.
CommVault Systems (US, software) ─ $785m 5y cvt priced at 0%, up 32.5% versus 0%-0.5% and 27.5%-32.5% marketing. JPM, MS, BOFA. Upsized from $750m Concurrent $117.7m share repurchase. Capped call to $357.56, a 100% premium.
Hamilton Lane (US, asset management) ─ $78.1m ABB. 528,705 shares (Secondary) at $147.65 versus $147.65-$149.65 marketing and $150.65 last sale. BOFA.
Lyft (US, ridesharing) ─ $450m 5y cvt priced at 0%, up 40% versus 0%-0.25% and 32.5%-37.5% marketing. GS, JPM, BOFA, RBC. Concurrent $95.7m share repurchase. Capped call to $33.60, a 100% premium.
Mineralys Therapeutics (US, biotech) ─ $250m ABB. 9.8m shares (Primary) at $25.50 versus $25.00-$27.00 marketing and $28.86 last sale. BOFA, EVER, GS, STFL, WF. Upsized from $175m. Wall cross.
Nova (US, semiconductors) ─ $650m 5y cvt priced at 0%, up 35% versus fixed coupon and 30%-35% marketing. BOFA, MS, BARC. Upsized from $500m. Capped call to $415.03, a 75% premium.