Groupon Inc. said Monday it plans to over $200 million in convertible debt due 2026 in a private offering to qualified institutional buyers. The notes will be convertible into cash, Groupon common shares or a combination of both, at the online-deal company’s choice. The interest rate and initial conversion rate of the notes have not yet been determined. The company plans to use the proceeds from the notes, along with cash on hand, to repay its existing 3.25% convertible notes due April 2022. The stock, which is still inactive in premarket trading, has rallied 59.1% over the past three months while the S&P 500 has gained 6.1%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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