On March 20, 2025, Insulet Corporation announced several key financial transactions:

**Senior Notes Issuance**
The company completed the sale of $450 million in 6.50% Senior Notes due 2033, generating approximately $444 million in net proceeds. These notes, governed by an indenture with Computershare Trust Company, will pay interest semiannually and mature on April 1, 2033. The notes are unsecured and unsubordinated and may be guaranteed by subsidiaries in the future if they become guarantors under Insulet’s credit arrangements.

**Amended Credit Facility**
Insulet also amended its existing Credit Agreement, extending the maturity date of its revolving credit commitments to March 20, 2030, and increasing the total commitments to $500 million. The revised facility allows borrowing at either a base rate or an adjusted Term SOFR rate, with interest margins and fees depending on the company’s leverage ratio. The funds may be used for working capital and general corporate purposes.

**Convertible Notes Repurchase**
Insulet entered into private agreements to repurchase $419 million of its outstanding 0.375% Convertible Senior Notes due 2026. Approximately $161.4 million of this will close on March 24, 2025, with the rest expected to close on April 14, 2025, depending on an averaging period to determine the final repurchase price. Following the transaction, $381 million in principal of the convertible notes will remain outstanding.

**Capped Call Unwinds**
To align with the repurchase of its convertible notes, Insulet also entered into unwind agreements to terminate a portion of related capped call transactions. The counterparties may hedge their positions by trading in Insulet’s common stock.

These transactions are part of Insulet’s broader financial management strategy aimed at optimizing its capital structure and reducing outstanding debt.