MGP Ingredients closes $201.2M 1.875% convertible note offering due 2041

MGP INGREDIENTS INC

$201.2M notes (incl. full $26.25M greenshoe) with 1.875% coupon, due Nov 2041, sold in 144A placement.
Initial conversion price ~$96.24; rate 10.3911 shs/$1k; convertible upon stock price conditions and after July 2026.
Senior unsecured; guaranteed by subsidiaries Luxco, MGPI Processing, MGPI of Indiana.
Callable at par from Nov 2024 (if stock ≥130% of conversion price) or unconditionally from Nov 2026.

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