debt
confidence high
sentiment neutral
materiality 0.70
Indivior prices upsized $450M convertible notes at 0.625% due 2031
Indivior Pharmaceuticals, Inc.
- Principal amount $450M (upsized from $400M); 0.625% interest, matures March 15, 2031.
- Net proceeds ~$437.7M (~$486.4M if initial purchasers' option fully exercised).
- ~$239M of proceeds plus $102M cash used to repay term loan and revolver.
- Concurrent $75M repurchase of ~2.4M shares from note purchasers at market price.
- Initial conversion price ~$41.66/share, a 35% premium over March 12 closing price.