Xeris Biopharma Entered Into Exchange Agreements For Its 5.00% Convertible Senior Notes Due 2025, To Exchange $31.975M Of The Existing Notes For $33.574M Of Xeris' New 8.00% Convertible Senior Notes Due 2028
Portfolio Pulse from Benzinga Newsdesk
Xeris Biopharma has entered into exchange agreements for its 5.00% convertible senior notes due 2025. The company will exchange $31.975M of the existing notes for $33.574M of Xeris' new 8.00% convertible senior notes due 2028.
September 27, 2023 | 12:13 pm
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NEUTRAL IMPACT
Xeris Biopharma's exchange of its 5.00% convertible senior notes due 2025 for new 8.00% convertible senior notes due 2028 may impact its financial stability and debt profile.
The exchange of notes will increase Xeris Biopharma's debt burden due to the higher interest rate on the new notes. However, it also extends the maturity date, providing the company with more time to repay its debt. The impact on the company's stock price will depend on how investors interpret these changes.
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