3D printer manufacturer 3D Systems has concluded repurchase agreements for a partial bond worth around 135 million US dollars. According to the company, this corresponds to an early debt repayment of almost 30 percent.
The so-called “Convertible Senior Notes” are convertible bonds that investors can exchange for shares in 3D Systems. Separate agreements have now been reached with some of these investors to buy back the securities at a discount of 26 percent.
According to 3D Systems CEO Jeffrey Graves, this step strengthens the company’s own capital base. It was also carried out in a disciplined manner in a volatile market environment. The remaining debt remains interest-free and matures in 2026.
3D Systems hopes to increase its own profitability and competitiveness through the partial debt reduction. According to Graves, the company’s cash reserves are still leading in the industry. This will enable the company to secure future investments and the further development of 3D printing.