Sep. 4 at 12:14 PM
💰
$EBS is taking another step to strengthen its balance sheet
Emergent BioSolutions has completed the repurchase of
$75M of senior unsecured notes, reducing its outstanding unsecured debt while maintaining flexibility for its broader transformation strategy.
Key takeaways:
• Repurchased
$75M of 3.875% senior unsecured notes due 2028
• Used approximately
$68M in cash, buying the notes at an average 90.6% of face value
• Outstanding balance now stands at approximately
$364.7M
• Emergent retains access to another
$50M under its asset-based revolving facility
• Management is evaluating the best timing to refinance the remaining notes ahead of their August 2028 maturity
Price target breakdown here 👇
https://www.zacks.com/stock/research/EBS/price-target-stock-forecast?cid=sm-stocktwits-0-price_target-teaser-39496&ADID=SYND_STOCKTWITS_TWEET_0_PRICETARGET_TEASER_39496