Parsons' $800 million convertible senior note offering

Chantilly, va., feb. 23, 2024 (globe newswire) -- parsons corporation (nyse: psn) announced today the full exercise of the $100 million option to purchase additional notes granted to the initial purchasers in its private offering of 2.625% convertible senior notes due in 2029, increasing the aggregate principal amount of notes to be issued by the company to $800 million. in connection with the exercise of the option, parsons entered into additional capped call transactions with certain of the initial purchasers, their respective affiliates, and other financial institutions. the offering was made to persons reasonably believed to be qualified institutional buyers pursuant to rule 144a under the securities act of 1933 as amended. parsons also confirmed that its board of directors has refreshed the corporation's stock repurchase authority to an amount of $100 million and removed the quarterly $25 million cap on such repurchases.
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