Dynatrace issues $1.4375 billion of 0% exchangeable senior notes due 2031
Dynatrace subsidiary Dynatrace LLC issued $1.4375 billion of 0.00% exchangeable senior notes due September 1, 2031, on August 20, 2026, including the full $187.5 million option. The company also used about $134.7 million of net proceeds to repurchase about 2.83 million shares of its common stock, and terminated its senior secured revolving credit facility. The notes are exchangeable into cash, shares or both, which could dilute shareholders if exchanged into stock, though hedge and warrant transactions are intended to offset part of that dilution.
Key points
- Notes issued August 20, 2026: $1.4375 billion principal, 0.00% interest, maturing September 1, 2031
- Net proceeds of about $1.411 billion; about $167.8 million used for the note hedge cost, net of warrant proceeds
- About $134.7 million used to repurchase about 2.83 million shares at $47.61, the August 17, 2026 closing price
- Initial exchange price of about $64.27 per share; the revolving credit facility was terminated with only cash-collateralized letters of credit outstanding
The filing
Written by AI on Nov 8, 2026, 1:12 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 20, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.