Repligen Announces $1 Billion Private Convertible Senior Notes Transaction
Repligen priced $1.0 billion of 0.25% Convertible Senior Notes due 2031, with roughly $541.4 million exchanged against $456.8 million of its 1.00% 2028 notes and about $458.6 million issued for cash. The initial conversion price of approximately $226.37 represents a 20% premium to the October 29 close, and only $143.2 million of the 2028 notes will remain outstanding after the November 6 expected close. CFO Jason Garland said the deal extends debt duration, reduces interest expense, and is expected to be nominally accretive to adjusted EPS in 2026.
Key figures
- Deal Value Usd
- 1000000000
- Buyback price
- 188.64
- Conversion price
- 226.37
- New notes coupon
- 0.25%
- Old notes coupon
- 1.00%
- Concurrent buyback
- $120.0 million
- Conversion premium
- 20%
- New notes maturity
- 2031
- Remaining 2028 notes
- $143.2 million
- Cash subscription principal
- $458.6 million
- Exchange transaction principal
- $541.4 million
- Refinanced 2028 notes principal
- $456.8 million
AI analysis
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