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.

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