Priceline Group Takes On Debt To Fund Share Buybacks

By | August 15, 2014

Scalper1 News

Online travel site Priceline Group (PCLN) said on Friday that it has taken on $1 billion in debt from the sale of convertible senior notes. The company said it would use the proceeds to buy back stock, with the remainder for general corporate purchases such as acquisitions. Priceline said the notes pay interest semiannually at a rate of 0.9% a year and are due in 2021. Net proceeds from the bond sale are expected to be $990 million, after Scalper1 News

Scalper1 News