Repligen Enters Agreements for $1 Billion in 0.25% Convertible Notes

Repligen entered into privately negotiated agreements for $1 billion in new convertible notes, with closing expected around Nov. 6.

The company will issue $1 billion in aggregate principal of 0.25% Convertible Senior Notes due 2031.

The agreements involve certain holders of Repligen’s 1.00% Convertible Senior Notes due 2028 and new investors. They include privately negotiated exchanges and/or subscriptions.

The $1 billion figure refers to the aggregate principal amount of the new notes.

The new notes have a lower stated rate and later maturity than the existing notes: 0.25% due in 2031, compared with 1.00% due in 2028. The transaction is expected to close on or about Nov. 6, subject to customary closing conditions.