BridgeBio Pharma, Inc. (BBIO): debt financing — BridgeBio closes $575M 1.75% convertible notes due 2031; refinances Blue Owl secured debt

BridgeBio Pharma, Inc.

Issued $575M aggregate principal of 1.75% convertible senior notes due March 1, 2031.
Net proceeds of ~$563M; used $48.3M to repurchase 1.4M shares at $34.35.
Repaid and terminated Financing Agreement with Blue Owl, eliminating ~$51.5M annual interest.
Notes are senior unsecured; conversion price ~$49.81 per share (45% premium).
May not redeem before March 6, 2028; can redeem after if stock exceeds 130% of conversion price.

item 1.01 item 1.02 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BridgeBio Pharma, Inc. incurred convertible notes of $575.0 million aggregate principal amount of 1.75% Convertible Senior Notes due 2031 with Qualified Institutional Buyers at 1.75% per year maturing March 1, 2031.

Instrument: convertible notes
Principal: $575.0 million aggregate principal amount of 1.75% Convertible Senior Notes due 2031
Counterparty: Qualified Institutional Buyers
Rate: 1.75% per year
Maturity: March 1, 2031
Event: incurrence

Exact text from the filing

On February 28, 2025, BridgeBio Pharma, Inc. (“BridgeBio”) issued an aggregate of $575.0 million aggregate principal amount of its 1.75% Convertible Senior Notes due 2031 (the “Notes”), pursuant to an Indenture dated February 28, 2025 (the “Indenture”), between BridgeBio and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), in a private offering to qualified institutional buyers (the “Note Offering”) pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).

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26 debt financings filed in the last 30 days. Browse all debt financings →

BridgeBio Pharma, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-25-006524

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