debt
confidence high
sentiment neutral
materiality 0.75
Guardant Health issues $600M 1.25% convertible notes due 2031; retires $659.3M of 0% notes due 2027
Guardant Health, Inc.
- Exchanged $600M new 1.25% convertible notes due 2031 for $659.3M of existing 0% notes due 2027.
- After close, $490.7M of 2027 notes remain outstanding; new notes mature Feb 15, 2031.
- Initial conversion price ~$62.22/share (35% premium to Feb 6 closing price).
- Up to 13,017,960 shares may be issued upon conversion based on initial max conversion rate.
- New notes are senior unsecured; interest payable semi-annually at 1.25%.