debt
confidence high
sentiment neutral
materiality 0.65
Indivior announces $400M convertible senior notes offering due 2031; to repay term loan and repurchase up to $75M stock
Indivior Pharmaceuticals, Inc.
- $400M aggregate principal amount of convertible senior notes due 2031, with initial purchasers' option for additional $60M.
- Notes are senior unsecured, pay semi-annual interest, redeemable after March 20, 2029 if stock exceeds 130% of conversion price.
- Net proceeds used to repay $239M term loan plus $102M cash, repurchase up to $75M of stock from note purchasers, and general corporate purposes.
- Conversions settled in cash and possibly shares; noteholders can require repurchase on fundamental change.
- Offering is private under Rule 144A; notes and conversion shares not registered under Securities Act.