JBT Marel Corporation announced the offering of $500 million aggregate principal amount of convertible senior notes due 2030 in a private offering.
The company intends to grant initial purchasers an option to purchase up to an additional $75 million aggregate principal amount of the Notes within a 13-day period.
Proceeds from the Offering will cover the net cost of convertible note hedge and warrant transactions, with the remaining used to repay borrowings under the revolving credit facility.
Offer Details
$500 million convertible senior notes due 2030 announced, with the option for additional $75 million purchase within 13 days.
Use of Proceeds
Intended to pay for convertible note hedge and warrant transactions and repay part of outstanding borrowings.
Notes Features
Senior unsecured obligations maturing on September 15, 2030, convertible under certain conditions until maturity.
- The Notes will provide flexibility for JBT Marel Corporation in managing its financial obligations.
- The Offering indicates the company's strategic approach to refinancing and optimizing its debt structure.
The Offering of Convertible Senior Notes by the JBT Marel Corporation demonstrates the company's proactive approach to financial management and debt refinancing.