QIAGEN N.V. Launches Non-US Offering of Convertible Bonds

QIAGEN N.V., a global provider of molecular testing solutions, announced the issuance of senior, unsecured net share settled convertible bonds due 2031. The bonds, presented today at a minimum of USD 200,000 each and totaling USD 450 million, will not be offered in the United States, Canada, Australia, Japan, or South Africa.

The bonds will bear interest at an annual rate of 2.125% to 2.625%, payable semi-annually. They come with a conversion option into approximately 6.9 million ordinary shares. The initial conversion price will be set at a 42.5% to 47.5% premium over today's average share price on the New York Stock Exchange.

Proceeds from the offering will serve general corporate purposes and debt refinancing. Trading on the Open Market segment of the Frankfurt Stock Exchange is expected by September 10, 2024.