BUZZ-Unity falls on $500 million convertible bond offering plan

Reuters
02-24
BUZZ-Unity falls on $500 million convertible bond offering plan

** Shares of videogame software provider Unity Software U.N fall 6.8% to $26.41 premarket

** U plans to offer $500 million of convertible bonds, due 2030, in a private placement

** Co plans to use proceeds along with cash on hand to repurchase $500 million of its convertible bonds, due 2026, among other purposes

** U has 409.7 million outstanding shares and a market value of $11.6 billion, according to data compiled by LSEG

** Unsecured bonds, which have a maturity of five years, will pay interest semiannually

** U shares have jumped 26.1% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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