Virgin Galactic Repurchases $354.6 Million of Convertible Notes and Issues New Debt in Private Placement
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Virgin Galactic Holdings Inc. repurchased $354.6 million of its 2.50% convertible senior notes due 2027 through privately negotiated agreements. The repurchases were financed with cash from a registered offering and a private placement. Concurrently, the company issued new notes and purchase warrants to certain investors. The new financing arrangements include customary covenants, restrictions, and events of default clauses.
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