BUZZ-Unity falls on $500 million convertible bond offering plan

Shares of videogame software provider Unity Software U.N fall 6.8% to $26.41 premarket

U plans to offer $500 million of convertible bonds, due 2030, in a private placement

Co plans to use proceeds along with cash on hand to repurchase $500 million of its convertible bonds, due 2026, among other purposes

U has 409.7 million outstanding shares and a market value of $11.6 billion, according to data compiled by LSEG

Unsecured bonds, which have a maturity of five years, will pay interest semiannually

U shares have jumped 26.1% YTD