Tetra Tech Prices $500M Convertible Senior Notes Offering
Portfolio Pulse from Benzinga Newsdesk
Tetra Tech, Inc. has priced its $500 million aggregate principal amount of 2.25% Convertible Senior Notes due 2028. The notes are being offered in a private placement to qualified institutional buyers. The company has also granted the initial purchasers an option to purchase up to an additional $75 million aggregate principal amount of the notes. The sale is expected to close on August 22, 2023.
August 18, 2023 | 7:18 am
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Tetra Tech's pricing of $500M Convertible Senior Notes could potentially increase the company's liquidity and financial flexibility. The sale is expected to close on August 22, 2023.
The offering of Convertible Senior Notes will increase Tetra Tech's cash reserves, providing more financial flexibility. This could be seen as a positive move by investors, potentially leading to a short-term increase in the company's stock price.
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