KBR Announces Agreements To Repurchase $100M Of Its $350M 2.50% Convertible Senior Notes Due November 1, 2023
Portfolio Pulse from Benzinga Newsdesk
KBR has announced agreements to repurchase $100 million of its $350 million 2.50% convertible senior notes due November 1, 2023. The transactions will result in a net outflow of approximately $188 million and will contain the cost of this proportion of the ultimate Notes maturity in November 2023. After the repurchases, $250 million in aggregate principal amount of Notes will remain outstanding.
June 02, 2023 | 10:02 am
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KBR announces agreements to repurchase $100M of its convertible senior notes, resulting in a net outflow of ~$188M and leaving $250M in Notes outstanding.
KBR's announcement to repurchase $100M of its convertible senior notes will result in a net outflow of approximately $188M. This action will contain the cost of this proportion of the ultimate Notes maturity in November 2023. While this news is relevant to KBR and its investors, it is not expected to have a significant short-term impact on the stock price, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100