Our Clients

Overview

• Matthews South advised Guess?, Inc. on their $175 million ASR
• The ASR was part of an expanded $249 million share repurchase program announced with earnings last week

Pricing, Structuring, & Execution Advice in a Volatile Market

• Matthews South has advised Guess? since 2019 on capital markets transactions including a convertible bond offering, call spread, ASR and other share repurchases
• Matthews South advised the company on the structuring and documentation of the ASR and conducted an auction to achieve the best pricing
• Structuring decisions like selecting the appropriate minimum and maximum maturity dates and balancing competing objectives in selecting the level of upfront share delivery, are top of mind for many issuers in this volatile market
• In 2022 YTD, there has been over $34bn of announced ASRs.  This activity annualizes to over 4x the 2021 volume

Additional Deals for Guess?:

• Apr 2023: $275mm Private Convertible Exchange
• Apr 2019: $275mm Convertible + Call Spread