Janus Capital Group has commenced a public offering of USD150m of its common stock and USD150m principal amount of convertible senior notes due in 2014.

Janus Capital Group has commenced a public offering of USD150m of its common stock and USD150m principal amount of convertible senior notes due in 2014.

The convertible senior notes will be convertible, under certain circumstances, into cash, shares of Janus common stock, or a combination of cash and shares of Janus common stock, at Janus' election.

Janus will grant the underwriters an option to purchase up to an additional 15 per cent of the number of shares offered to cover over-allotments, if any, and an option to purchase up to an additional USD22.5m principal amount of the convertible senior notes to cover over-allotments, if any.

The net proceeds of the concurrent common stock and convertible senior notes offerings, together with cash on hand, will be used to repurchase up to USD400m of the aggregate principal amount of the firm's outstanding 2011, 2012 and 2017 senior notes in a tender offer and for general corporate purposes, including the repayment or repurchase of any of the foregoing series of notes that remain outstanding.

J.P. Morgan Securities and Goldman Sachs are acting as joint book-running managers of the proposed offerings.

Janus Capital Group is a global investment firm offering strategies from three individual investment boutiques: Janus Capital Management, Intech Investment Management and Perkins Investment Management.