New Issue: Global Eagle Entertainment (ENT) Convertible Senior Notes due 2035

Global Eagle Entertainment is issuing $75 million of convertible senior notes due 2035, with a put in year 7.  We understand the price-talk midpoint to be 2.75% up 32.5% and have based our analysis on these terms, noting that the stock fell over 14% after the proposed deal was announced. Proceeds will be used for general corporate purposes including acquisitions.  The HOCS slash line for the new issue is...

(For complete report, please contact John Anderson at janderson@hillsideadvisors.com for subscription information or your courtesy copy)