March 30, 2010 (FinancialWire) — Concur (NASDAQ: CNQR) said it plans to offer $250 million aggregate principal amount of convertible senior notes, subject to market conditions and other factors.

The notes would be due in 2015 and are to be offered and sold to qualified institutional buyers. Concur also plans to grant to the initial purchasers of the notes an option to purchase up to an additional $37.5 million aggregate principal amount of notes solely to cover over-allotments.

The notes will be unsecured, unsubordinated obligations of Concur, and interest will be payable semi-annually. The notes will be convertible, subject to certain conditions, into cash up to the principal amount of the notes and, with respect to any excess conversion value, into shares of Concur common stock.

The interest rate, conversion rate, offering price and other terms are to be determined by negotiations between Concur and the initial purchasers.

In connection with the offering, Concur plans to enter into convertible note hedge transactions with one or more of the initial purchasers of the notes or their respective affiliates. Concur also expects to enter into separate warrant transactions with the hedge counterparties, and to use the proceeds of those warrant transactions to partially offset the cost of the convertible note hedge transactions.

Washington-based Concur is a provider of on-demand services used by organizations to increase efficiency, manage employee spend and control operational costs.

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