LONG BEACH, Calif., March 4, 2014 (GLOBE NEWSWIRE) -- UTi Worldwide Inc. (Nasdaq:UTIW) today announced that it has completed both of its previously announced private offerings, which consisted of $350 million aggregate principal amount of 4.50% Convertible Senior Notes due 2019 (the "Notes") and $175 million of 7.00% Convertible Preference Shares. The Company also granted the initial purchasers in the Notes offering an option to purchase up to an additional $50 million aggregate principal amount of the Notes, which option has been exercised in full, increasing the aggregate principal amount of the Notes to $400 million. The net proceeds of the offerings were approximately $555 million. The Company intends to use the net proceeds of the offerings to repay debt and for other general corporate purposes.
UTi Worldwide Announces Closing Of Offering Of $400 Million 4.50% Convertible Senior Notes Due 2019 And $175 Million 7.00% Convertible Preference Shares
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