| Issuer / Guarantor | Penguin Solutions Inc |
|---|---|
| Size | USD 750mn |
| Type | Convertible |
| Leads | JP Morgan, BoA, Goldman Sachs, Fifth Third Securities, PNC Capital |
| Maturity | 01 Aug 2031 (5 years) |
| Coupon | 0% (0%) |
| Premium | 50% (37.5 - 42.5%) |
| Calls | NC3; PC @ 130% w table MW |
| Puts | t/o @ 100% |
| Div protection | Ratio adjustment (Full) |
| T/o protection | Make-whole table |
| CoCo | 130% to Apr 2031 (4.8 yrs) |
| Announced | 13 Jul 2026 |