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News  ›  Benzinga

Plug Power Inc. Announces Pricing of Offering of $375.0 Million of 6.75% Convertible Senior Notes

Benzinga Logo Benzinga By Globe Newswire
Plug Power Inc. Announces Pricing of Offering of $375.0 Million of 6.75% Convertible Senior Notes

Plug Power has priced a $375 million convertible senior notes offering, intending to use proceeds to repay secured debentures and repurchase existing convertible notes due in 2026.

Insights
VIG   positive

Offers diversification, tracks dividend-growing stocks, provides 1.6% yield, and has a low expense ratio of 0.05%


PLUG   neutral

The company is restructuring its debt by issuing new convertible notes at 6.75% interest, with plans to repay existing higher-interest debentures and repurchase 2026 notes, which suggests a strategic financial management approach