Concentrix prices $2.15 billion senior notes offering for webhelp combination
Newark, calif., july 19, 2023 (globe newswire) -- concentrix corporation (the “company”) (nasdaq: cnxc), a leading global provider of customer experience (cx) solutions and technology, today announced that it priced a public offering of $800 million aggregate principal amount of 6.650% senior notes due 2026, $800 million aggregate principal amount of 6.600% senior notes due 2028 and $550 million aggregate principal amount of 6.850% senior notes due 2033 (the “offering”). the company expects to use the net proceeds from the offering, together with other debt financing and cash on hand, to fund the cash consideration payable by the company in connection with its pending acquisition (the “acquisition”) of marnix lux sa (“webhelp parent”), the indirect parent company of webhelp sas (collectively referred to herein with webhelp parent and webhelp parent's subsidiaries as “webhelp”), to repay existing indebtedness of webhelp and to pay related fees and expenses in connection with the acquisition of webhelp. the remaining proceeds, if any, will be used for general corporate purposes. the offering is expected to close on august 2, 2023, subject to customary closing conditions.
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