WASHINGTON (dpa-AFX) - Nuance Communications, Inc. (NUAN) said Thursday that it has priced the offering of $700.0 million aggregate principal amount of its 5.375 percent senior notes due 2020.
These notes will be fully and unconditionally guaranteed on a senior, unsecured basis by substantially all of Nuance's domestic subsidiaries.
Interest on the notes will accrue at a rate of 5.375 percent per year, and will be payable in cash semi-annually in arrears, beginning on February 15, 2013.
The Notes will mature on August 15, 2020, unless earlier repurchased or redeemed.
The sale of the Notes is expected to close on August 14, subject to the satisfaction of customary closing conditions.
The aggregate net proceeds to Nuance from the offering of the Notes will be about $687.6 million. The company said that it intends to use the proceeds for acquisitions and general corporate purposes, including working capital and capital expenditures
The note holders may require Nuance to repurchase their notes upon the occurrence of certain change of control events at a purchase price equal to 101 percent of the principal amount thereof plus accrued and unpaid interest, if any.
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