JBT Marel Corporation announced the pricing of its private offering of $500 million aggregate principal amount of 0.375 percent convertible senior notes due 2030. This financing initiative aims to bolster the company's capital structure.
The initial purchasers of the notes were granted an option to acquire up to an additional $75.0 million aggregate principal amount of the notes within a 13-day period following the initial closing date. This provides flexibility for further capital raising.
The issuance of convertible senior notes introduces new debt to the company's balance sheet, but also offers potential for equity conversion. This move is part of JBT Marel's broader financial strategy, which includes a focus on deleveraging to below 3x by year-end 2025.
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