Beyond Meat Debt Exchange has been launched to reduce more than $800 million of obligations. On September 29, 2025, the company declared the move as part of one of its significant financial restructuring plans.
All the 0% Convertible Senior Notes to maturity 2027 of Beyond Meat will be subject to the exchange. These holders are being requested to exchange these notes with a combination of new secured notes plus common stock. Almost 50 percent of current noteholders are supportive of the transaction and have signed a support agreement.
Structure Of The Offer
Beyond Meat will under the deal issue up to 202.5 million new 7 per cent Convertible Senior Secured Second Lien Notes that mature in 2030. In addition to this, the company will issue $326 million shares of common stock. These will take the place of the company outstanding 2027 notes.
The new secured notes have an interest of 7% per annum when paid in cash. Interest on the same may be paid in kind at 9.5% on demand. They will be matured five years upon settlement except upon conversion. Holders who join the Beyond Meat Debt Exchange before the early deadline will receive more favorable terms, including an early exchange premium.
Noteholder Support
Beyond Meat reported that 47 percent of existing noteholders had already given the plan their backing. These investors also sign-up to a transaction support agreement, which binds them to be involved. The deal also involves 85% of the entire outstanding notes to be involved in the exchange in order to close the deal.
In order to win such support, Beyond Meat settled to pay the supporting group 12.5 million of new notes after the deal settles.
Deadlines And Settlement
The trade will continue until October 28, 2025. The early tender date is October 10, which will provide the participants with early settlement and premium terms. The last settlement will be on October 30 provided the conditions met.
If the required participation level is not reached, the Beyond Meat Debt Exchange will not go forward. The company reserves the right of amending, extending or terminating the offer as per the agreement.
Impact On FMCG
Beyond Meat is a major brand within the plant-based protein category, both in the supermarkets and foodservice. The exchange of the debt is to stabilize the finances of the company and obtain a long-run supply. Beyond the development of its products, Beyond Meat can increase its leverage by decreasing the leverage and increasing the maturities to strengthen its balance sheet.
To buyers and retailers of FMCG, a more robust financial standing can also give them more confidence in Beyond Meat as a trusted partner. The relocation also represents a broader orientation in the plant-based business, where the development has decreased yet the market share is significant.
Outlook
If successful, the Beyond Meat Debt Exchange will remove more than $800 million of debt from the company’s balance sheet. Beyond Meat would proceed with new secured notes and other equity to be more flexible in achieving its objectives of becoming a global leader in providing plant proteins.
