Lumentum Holdings Inc. has announced a $1.1 billion convertible notes offering, aiming to issue convertible senior notes due 2032. These notes will be offered in a private placement to qualified institutional buyers. The company is also granting initial purchasers a 13-day option to buy up to an additional $165.0 million in notes. The proceeds will partly be used to cover capped call transactions and to repurchase a portion of existing 0.50% Convertible Senior Notes due 2026. The convertible notes will be senior unsecured obligations, with interest payable semi-annually. The interest rate and conversion rate will be determined upon the pricing of the offering.
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