Euronet Worldwide falls on planned $850 million convertible bonds offering

Payments processing firm Euronet Worldwide's EEFT.O shares fall 5.2% to $90 premarket

EEFT announces proposed private placement of $850 million of convertible bonds due 2030

Leawood, Kansas-based EEFT plans to use proceeds to repay debt

In connection with the offering, EEFT plans to use cash on hand to repurchase up to $175 million of its shares and to pay cost of capped calls, derivative transactions to offset dilution

With 41 million outstanding shares, EEFT has $3.9 billion market cap

8 of 10 brokerages rate the stock "buy" or higher and 2 "hold"; median PT $130 - data compiled by LSEG

As of last close, EEFT stock was down 7.7% YTD