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Alliance Data Systems Corporation Prices $300 Million Convertible Senior Notes.

Publication: PR Newswire
Publication Date: 28-MAY-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
DALLAS, May 28 /PRNewswire-FirstCall/ -- Alliance Data Systems Corporation announced today the pricing last night of its previously announced offering of $300 million aggregate principal amount of convertible senior notes due 2014 (the "Notes"). The Notes were offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Alliance Data has granted to the initial purchasers of the Notes an option to purchase up to an additional $45 million aggregate principal amount of the Notes solely to cover over-allotments, if any.

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Alliance Data expects to use the net proceeds of the offering and related warrant transactions (i) to repurchase approximately $74.9 million worth of shares of Alliance Data common stock through prepaid forward transactions, described below, (ii) to pay approximately $44.1 million for the cost of convertible note hedge transactions entered into in connection with the offering, taking into...

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