Concentrix Prices $2.15 Billion Senior Notes Offering for Webhelp Combination
July 19 2023 - 6:15PM
Concentrix Corporation (the “Company”) (NASDAQ: CNXC), a leading
global provider of customer experience (CX) solutions and
technology, today announced that it priced a public offering of
$800 million aggregate principal amount of 6.650% Senior Notes due
2026, $800 million aggregate principal amount of 6.600% Senior
Notes due 2028 and $550 million aggregate principal amount of
6.850% Senior Notes due 2033 (the “Offering”). The Company expects
to use the net proceeds from the Offering, together with other debt
financing and cash on hand, to fund the cash consideration payable
by the Company in connection with its pending acquisition (the
“Acquisition”) of Marnix Lux SA (“Webhelp Parent”), the indirect
parent company of Webhelp SAS (collectively referred to herein with
Webhelp Parent and Webhelp Parent’s subsidiaries as “Webhelp”), to
repay existing indebtedness of Webhelp and to pay related fees and
expenses in connection with the acquisition of Webhelp. The
remaining proceeds, if any, will be used for general corporate
purposes. The Offering is expected to close on August 2, 2023,
subject to customary closing conditions.
The Offering is not conditioned upon the consummation of the
Acquisition. However, each series of Notes will be subject to a
special mandatory redemption (at a price equal to 101% of the
aggregate principal amount of such series of Notes) if the
Acquisition does not close prior to a certain date or the Share
Purchase and Contribution Agreement related to the Acquisition is
terminated without the consummation of the Acquisition.
J.P. Morgan Securities LLC, BofA Securities, Inc., HSBC
Securities (USA) Inc., MUFG Securities Americas Inc., PNC Capital
Markets LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities
America, Inc., TD Securities (USA) LLC, Truist Securities, Inc.,
U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC are
acting as joint book-running managers for the Offering.
The Offering will be made pursuant to an effective shelf
registration statement, previously filed by the Company with the
U.S. Securities and Exchange Commission (the “SEC”). Before
investing, you should read the prospectus supplement and
accompanying prospectus relating to and describing the terms of the
Offering, as well as other documents the Company has filed with the
SEC, for a more complete understanding of the Company and the
Offering. These documents are available for free by visiting EDGAR
on the SEC website at www.sec.gov.
Alternatively, copies of the prospectus supplement and
accompanying prospectus may be obtained by contacting J.P. Morgan
Securities LLC at 383 Madison Avenue, New York, New York 10179,
Attention: Investment Grade Syndicate Desk – 3rd Floor or by
telephone at 1-866-803-9204 or BofA Securities, Inc. at
NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina
28255-0001, Attention: Prospectus Department, E-mail:
dg.prospectus_requests@bofa.com or toll-free at 1-800-294-1322.
This press release is for informational purposes only and shall
not constitute an offer to sell or a solicitation of an offer to
buy any security and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offering, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTSThis news release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements include, but are not limited to,
statements regarding the Offering and the proposed acquisition of
Webhelp, and statements that include words such as “plans”,
“believe”, “expect”, “may”, “will”, “provide”, “could” and “should”
and other similar expressions. These forward-looking statements are
inherently uncertain and involve substantial risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements. We do not
undertake a duty to update forward-looking statements, which speak
only as of the date on which they are made.
Copyright 2023 Concentrix Corporation. All
rights reserved. Concentrix, the Concentrix logo, and all other
Concentrix company, product and services names and slogans are
trademarks or registered trademarks of Concentrix Corporation and
its subsidiaries. Concentrix and the Concentrix logo Reg. U.S. Pat.
& Tm. Off. and applicable non-U.S. jurisdictions. Other names
and marks are the property of their respective owners.
Investor Contact:
David Stein
Investor Relations
Concentrix Corporation
david.stein@concentrix.com
(513) 703-9306
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