The 0.375% convertible senior notes are due 2030

Davis Polk the representatives of the initial purchasers in a Rule 144A offering by John Bean Technologies Corporation (JBT Marel) of $575 million aggregate principal amount of 0.375% convertible senior notes due 2030, including $75 million principal amount of convertible notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional convertible notes. In addition, Davis Polk advised counterparties to convertible note hedge and warrant transactions in connection with the convertible notes offering. JBT Marel’s common stock is listed on the New York Stock Exchange and Nasdaq Iceland under the symbol “JBTM.”

JBT Marel is a leading global technology solutions provider to high-value segments of the food and beverage industry. The company brings together the complementary strengths of both the JBT and Marel organizations to transform the future of food. It provides a unique and holistic solutions offering by designing, manufacturing and servicing cutting-edge technology, systems and software for a broad range of food and beverage end markets. JBT Marel aims to create better outcomes for customers by optimizing food yield and efficiency, improving food safety and quality and enhancing uptime and proactive maintenance, all while reducing waste and resource use across the global food supply chain. It operates sales, service, manufacturing and sourcing operations in more than 30 countries.

The Davis Polk corporate team included partner Pedro J. Bermeo, counsel Michael Stromquist and associates Megan P. Phansalkar, Kimberly Hickey and Yao Li. The equity derivatives team included partners Mark M. Mendez and Mark J. DiFiore, counsel M. Faisal Baloch and Joseph Luizzi and associates Ji Hwan Kim and Tashanique (Tasha) Brown. Partner Aliza Slansky and associates Alanna Phillips and Zoey Chau provided tax advice. All members of the Davis Polk team are based in the New York office.

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