JBT Marel Corporation Closes $575 Million Convertible Senior Notes Offering
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JBT Marel Corporation has closed its private offering of $575 million in convertible senior notes, with a 0.375% interest rate and a maturity date in 2030. This includes $75 million from the exercise of an option by initial purchasers. The proceeds will be used for convertible note hedge transactions and to repay part of the company's revolving credit facility borrowings. The company also plans to refinance its existing 0.25% convertible senior notes due in 2026 using its revolving credit facility or cash on hand.
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