Benzinga | Mar 8, 2021 09:41AM EST

Synaptics Seeks To Raise $400M Via Senior Notes For Debt Financing

* Human interface hardware and software developer Synaptics Inc (NASDAQ: SYNA) intends to offer $400 million senior unsecured notes due 2029 in a private institutional offering.

* The company plans to utilize the offering proceeds for the debt repayment of $100 million under its revolving credit facility and general corporate purposes. It may include the repayment of a portion of its existing 0.50 percent senior convertible notes due 2022, upcoming acquisitions, additional debt repayment, and share repurchases.

* The company's long-term debt stood at $596.1 million as of December 31, 2020.

* SYNA shares have gained 26% in the last month.

* Price action: SYNA shares are down 0.25% at $132.17 on the last check Monday.