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Alliance Data Systems Corporation Announces Proposed Offering of $300 Million Convertible Senior Notes.

Publication: Information Technology Newsweekly
Publication Date: 09-JUN-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Alliance Data Systems Corporation (NYSE:ADS) announced that it proposes to offer, subject to market conditions and other factors, $300 million aggregate principal amount of convertible senior notes due 2014 (the "Notes") to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Alliance Data also intends to grant 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.

Alliance Data expects to use the net proceeds of the offering and related warrant transactions (i) to repurchase an estimated amount of $75.0 million worth of shares of Alliance Data common stock, (ii) to pay an estimated amount of $39.3 million for the cost of convertible note hedge transactions entered into in connection with the...

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