Par said it plans a private offering of USD 225 million of convertible senior notes due 2031. The company expects to give the initial purchaser an option to buy up to an additional USD 25 million of the notes, bringing the potential total to USD 250 million. Par said it intends to use proceeds to repurchase a portion of its 1.5% convertible senior notes due 2027 and for general corporate purposes. Par also expects to repurchase up to USD 40 million of its common stock in privately negotiated transactions concurrent with the pricing.
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