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Poly Announces Proposed Senior Notes Offering


Poly Announces Proposed Senior Notes Offering
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SANTA CRUZ, Calif., Feb. 22, 2021 /PRNewswire/  Poly (NYSE: PLT) (the Company ), a global outfitter of professional-grade audio and video technology, today announced its intention to offer $500 million aggregate principal amount of new senior notes due 2029 (the 2029 Notes ). The Company intends to use the proceeds from the offering of the 2029 Notes, along with cash on hand, to fund the redemption in full of the Company s outstanding 5.50% Senior Notes due 2023 (the 2023 Notes ) and to pay related fees and expenses. To the extent the net proceeds from the sale of the 2029 Notes exceeds the aggregate redemption price of the 2023 Notes, the Company will use such excess for general corporate purposes, including repaying amounts outstanding under its secured term loan. ....

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