Benzinga | Feb 26, 2021 06:57AM EST

Plantronics Raises $500M Via Senior Notes To Refinance Debt

* American electronics company Plantronics Inc (NYSE: PLT) priced 4.75% senior notes due 2029 in a private offering to raise $500 million.

* The offering proceeds will be utilized to repay its outstanding 5.50% Senior Notes due 2023 and related fees and expenses. Any remaining proceeds will be used for general corporate purposes, including loan repayment.

* The company's long-term debt balance stood at $1.6 billion as of December 26, 2020.

* Price action: PLT shares closed lower by 4.09% at $41.49 on Thursday.