Plantronics Seeks $500M For Debt Refinancing

Plantronics Inc (NYSE: PLT) proposed to raise $500 million via senior notes offering due 2029.
The company intends to utilize the offering proceeds for discharging outstanding 5.50% senior notes due 2023 and related fees. Any excess amount raised thereof would be used for general corporate purposes, including secured term loan repayment.
The company's closing cash balance stood at $230 million as of December 26, 2020, and long-term debt stood at $1.6 billion.
PLT share prices have climbed 135% in the last six months.
Price action: PLT shares were down 3.09% at $39.70 on the last check Monday.

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