Emergent BioSolutions Inc. announced it has completed the repurchase of $75 million aggregate principal amount of its 3.875% Senior Unsecured Notes due 2028, reducing the outstanding balance to approximately $364.7 million. The company deployed about $68 million of cash for the repurchases at an average price of 90.6% of face value. CEO Joe Papa said the move reflects disciplined capital deployment and commitment to prudent balance sheet management amid its multi-year transformation plan. Emergent retains a strong cash position and access to an additional $50 million under its asset-based revolving loan facility, and it will discuss the milestone at upcoming investor conferences in September.
Emergent Biosolutions IncCompleted $75M bond repurchase at discount, reducing debt and showing disciplined capital deployment.
