Euronet Worldwide Prices $850 Million 0.625% Convertible Senior Notes Offering

Core Viewpoint - Euronet Worldwide, Inc. has announced the pricing of $850 million in 0.625% Convertible Senior Notes due 2030, aimed at qualified institutional buyers, with an option for initial purchasers to buy an additional $150 million [1][2]. Group 1: Offering Details - The offering is expected to close on August 15, 2025, subject to customary closing conditions [2]. - The notes will bear interest at a rate of 0.625% per year, payable semiannually starting April 1, 2026, and will mature on October 1, 2030 [3]. - Euronet intends to use the net proceeds to repay existing borrowings under its unsecured revolving credit facility and for general corporate purposes [4]. Group 2: Conversion and Redemption - The notes are convertible at the option of the holders under certain circumstances, with an initial conversion rate of 7.8718 shares per $1,000 principal amount, equating to a conversion price of approximately $127.04 per share, representing a 30% premium over the last reported sale price of $97.72 [5]. - Euronet may redeem the notes starting October 7, 2028, if certain stock price conditions are met [6]. Group 3: Fundamental Change and Capped Call Transactions - In the event of a "fundamental change," holders may require Euronet to repurchase their notes at 100% of the principal amount plus accrued interest [7]. - Euronet has entered into capped call transactions to reduce potential dilution upon conversion of the notes, with an initial cap price of approximately $180.78 per share, an 85% premium over the last reported sale price [9]. Group 4: Share Repurchases - Euronet plans to use approximately $131.3 million of cash on hand to repurchase shares of its common stock concurrently with the pricing of the offering [12].