(Updated) Callaway Golf Co. increased its planned private offering of convertible notes on April 30, adding that they will yield an annual interest of 2.75 percent. By May 4, qualified institutional investors will be able to purchase $225,000,000 worth of senior notes maturing in 2026. They may be granted an overallotment option of $33,750,000 for 13 days. Callaway will determine when the notes can be converted into shares, and the initial conversion rate will carry a price of about $17.61 per share, representing a premium of 30 percent over the April 29 share price. The company doesn’t plan to redeem the remaining notes before May 6, 2023, but noteholders may request repayment in cash under exceptional circumstance

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