Tyler Technologies crowns biggest week of the year for US convertible issuance

Nasdaq_alamy_2_575_375
By Aidan Gregory
05 Mar 2021

Tyler Technologies, the US develop of software for local government, has raised $525m via the sale of new convertible bonds, capping off the busiest week of the year so far for US equity-linked issuance.

The glut of supply has led to market indigestion and a pushback from investors against aggressive pricing by issuers. Tyler Technologies had to cheapen the terms of its new five-year bond, which priced on Friday, at a 0.25% coupon and a 30% conversion premium. A plan for a ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial