Market Chatter: KKR, Sixth Street to Invest $1 Billion in BridgeBio Preferred Equity

MT Newswires Live07-01

KKR (KKR) and Sixth Street Partners have agreed to provide a $1 billion preferred equity financing to BridgeBio Pharma (BBIO) to help accelerate the launch of new drugs targeting genetic diseases, Bloomberg reported Wednesday, citing people familiar with the matter.

The preferred equity is anticipated to be convertible at an initial rate of $138 per share, and the deal could be announced as early as Wednesday, sources told Bloomberg.

The bulk of the funding, about $800 million, will come from Sixth Street, according to the report.

KKR, Sixth Street, and BridgeBio did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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