03:24 AM EDT, 10/16/2024 (MT Newswires) -- Guidewire Software ( GWRE ) said late Tuesday it priced a private placement to eligible purchasers of $600 million of 1.25% convertible senior notes due 2029.

The initial purchasers have been granted a 13-day option to purchase up to $90 million additional amount of notes.

Net proceeds, estimated to be about $583.7 million to $671.5 million, will be used to fund certain capped call transactions, to retire $120.9 million of 1.25% convertible senior notes due 2025, and for general corporate purposes, the company said.

The offering, which has been upsized from $500 million, is expected to settle on Friday, subject to customary conditions.

Price: 188.00, Change: -0.19, Percent Change: -0.10