JBT Marel launches $500M convertible notes offering; amends credit facility to lower borrowing costs

JBT MAREL Corp

Offering of $500M convertible senior notes due 2030 (plus $75M option) to QIBs under Rule 144A.
Proceeds to repay revolver borrowings, then refinance outstanding 0.25% 2026 convertible notes.
Credit agreement amended: revolver pricing reduced (SOFR margin 1.125%-1.750%, commitment fee 0.15%-0.25%).
Amendment also permits issuance of up to $600M unsecured convertible notes on or before Dec 31, 2025.
Unaudited pro forma financials for Marel transaction and Marel MD&A furnished as exhibits.

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