JBT Marel Corporation Announces Closing of Convertible Senior Notes
JBT Marel Corporation (JBTM)
Company Research
Source: Business Wire
CHICAGO--(BUSINESS WIRE)--JBT Marel Corporation (NYSE and Nasdaq Iceland: JBTM) announced today that it has closed its previously announced private offering (the “Offering”) of $575 million aggregate principal amount of 0.375 percent convertible senior notes due 2030 (the “Notes”), which includes $75 million aggregate principal amount of Notes issued in connection with the initial purchasers’ full exercise of their option to acquire additional Notes. The Company utilized the net proceeds from the Offering to execute convertible note hedge and warrant transactions and repay a portion of the borrowings outstanding under its revolving credit facility. The Company subsequently intends to draw on its revolving credit facility and/or use cash on hand to repay or otherwise refinance its 0.25 percent convertible senior notes due 2026 (the “2026 notes”) at or prior to the maturity of the 2026 notes.“We are pleased to complete the closing of our senior convertible notes transaction, as we t
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