Reported Earlier, Guidewire Software Prices Upsized $600M 1.25% Convertible Senior Notes Due 2029

The offering size was increased from the previously announced offering size of $500.0 million aggregate principal amount of notes. The issuance and sale of the notes are scheduled to settle on October 18, 2024, subject to customary closing conditions. Guidewire also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $90.0 million aggregate principal amount of notes.

The notes will be senior, unsecured obligations of Guidewire and will accrue interest at a rate of 1.25% per annum, payable semi-annually in arrears on May 1 and November 1 of each year, beginning on May 1, 2025. The notes will mature on November 1, 2029, unless earlier repurchased, redeemed or converted. Before August 1, 2029, noteholders will have the right to convert their notes only upon the occurrence of certain events.