Janus Capital Group has commenced a public offering of $150 million of its common stock and $150 million principal amount of convertible senior notes due in 2014. The convertible senior notes will be convertible into cash, shares of Janus Capital Group common stock or a combination of cash and shares, at Janus’ election.
The net proceeds of the concurrent common stock and convertible senior notes offerings, together with cash on hand, will be used to repurchase up to $400 million of the aggregate principal amount of the firm’s outstanding 2011, 2012 and 2017 senior notes. It is also expected to be used for general corporate purposes, including the repayment or repurchase of any of the foregoing series of notes that remain outstanding.
The common stock and convertible senior notes will be offered pursuant to an effective automatic shelf registration statement filed by Janus with the Securities and Exchange Commission, which has become effective.
Denver-based Janus Capital Group is a global investment firm offering strategies from three individual investment boutiques: Janus Capital Management, INTECH Investment Management and Perkins Investment Management.