5 Best Stocks That Recently Issued New Debt

3. ESAB Corp. (NYSE:ESAB)

ESAB Corp. (NYSE:ESAB) is one of the 10 best stocks that recently issued new debt.

On March 12, ESAB Corporation (NYSE:ESAB) announced that it has priced an offering of $1 billion aggregate principal amount of 5.625% senior notes due 2031. According to the industrial company, a portion of the purchase consideration for Eddyfi Holding and the related companies will be funded by the net proceeds.

The transaction is expected to close on March 26, subject to customary conditions, and some of the current and future domestic restricted subsidiaries of ESAB will provide the guarantee for the notes.

On February 23, JPMorgan increased the firm’s price target on ESAB Corp. (NYSE:ESAB) from $130 to $153. The firm maintained an Overweight rating on the stock, which yields an adjusted upside potential of more than 69% following the target revision.

The move comes on the back of updated estimates after the company’s fourth quarter report. It reflected a more positive view of the company’s performance going forward.

ESAB Corp. (NYSE:ESAB) is an industrial compounder that manufactures and supplies consumable products and equipment. These include cutting material, consumables & gas controlling solutions, and welding equipment. The company also offers software and digital solutions to enhance productivity and enable remote monitoring of welding operations.