TLPPF · Telix Pharmaceuticals Limited

Telix Pharmaceuticals Limited has executed a significant refinancing transaction through a US$600 million convertible bond offering, which was upsized from the originally planned US$550 million due to strong investor demand. The new convertible bonds carry a 1.50% annual interest rate with quarterly payments beginning July 2026 and mature in April 2031. The bonds are convertible into ordinary shares at a 37.5% premium over the reference share price of A$14.22, with the initial conversion price set at US$13.85. Concurrently, Telix is repurchasing approximately A$637 million of its existing A$650 million convertible bonds due 2029, which will result in the cancellation of over 85% of those bonds. The company plans to redeem the remaining existing bonds, effectively refinancing its debt structure. Managing Director and Group CEO Dr. Christian Behrenbruch stated that this transaction aligns with the company's capital management strategy and provides financial flexibility. J.P. Morgan served as the sole bookrunner for the new offering and dealer manager for the concurrent repurchase, with settlement expected on 22 April 2026 subject to customary conditions.