Varex Imaging (VREX) said Tuesday it priced a $125 million private offering of 7.875% senior secured notes due Oct. 15, 2027.
The offering price is 101.5% of the principal amount, plus accrued and unpaid interest from Oct. 15, the company said.
Varex said these notes are further issuance of 7.875% senior secured notes due 2027, which originally totaled $300 million and were first issued in September 2020.
The company expects to close the offering on Friday and after completion, it will terminate a $20 million equipment credit agreement.
Net proceeds from the offering will be used to repay a portion of its outstanding convertible notes due June 2025 or repurchase part of the notes.
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