LinkedIn Prices $1.15 Bln Convertible Notes Offering

(RTTNews) - LinkedIn Corp. (LNKD) said Thursday that it has priced $1.15 billion aggregate principal amount of convertible senior notes due 2019 in a private placement.

The company has also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $172.5 million aggregate principal amount of the notes.

The sale of the notes to the initial purchasers is expected to settle on November 12, and is expected to result in about $1.13 billion in net proceeds to LinkedIn after deducting the initial purchasers' discount and estimated offering expenses payable by the company.

LinkedIn expects to use about $70.2 million of the net proceeds of the offering of the notes to pay the cost of the convertible note hedge transactions after such cost is partially offset by the proceeds of the warrant transactions to raise the effective conversion price of the notes from LinkedIn's perspective, and to use the remaining proceeds of the offering for general corporate purposes.