Indivior Prices $450 Million Convertible Senior Notes Offering

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Indivior Pharmaceuticals, Inc. announced the pricing of its offering of $450 million aggregate principal amount of 0.625% convertible senior notes due 2031. The company also granted the initial purchasers a 30-day option to purchase up to an additional $50 million in notes. Indivior plans to use the net proceeds to repay borrowings, repurchase shares, and for general corporate purposes.

Why it matters

The convertible note offering will help Indivior, a leader in treatments for opioid use disorder, refinance its debt and return capital to shareholders through a share buyback. This move demonstrates the company's financial strength and commitment to its long-term strategy as it continues to advance addiction treatment solutions.

The details

The notes will be senior, unsecured obligations of Indivior and will accrue interest at a rate of 0.625% per annum, payable semi-annually. The notes will mature on March 15, 2031, unless earlier repurchased, redeemed or converted. Noteholders will have the right to convert their notes under certain conditions. Indivior will have the option to redeem the notes on or after March 20, 2029 if certain conditions are met. The company estimates the net proceeds will be approximately $437.7 million, or $486.4 million if the initial purchasers fully exercise their option.

• The sale of the notes to the initial purchasers is expected to settle on March 17, 2026.
• The notes will mature on March 15, 2031, unless earlier repurchased, redeemed or converted.
• Indivior will have the option to redeem the notes on or after March 20, 2029.

What’s next

Indivior will use the net proceeds from the offering to repay debt, repurchase shares, and for general corporate purposes.