DURHAM, N.C., Nov. 24, 2025 (GLOBE NEWSWIRE) -- Fortrea (NASDAQ:FTRE) (the "Company"), a leading global contract research organization (CRO), today announced that it has completed its debt tender offer (the "Tender Offer") described in the Offer to Purchase dated October 20, 2025 by purchasing $75,743,000 in aggregate of the Company's outstanding 7.500% Senior Secured Notes due 2030 (CUSIP No. 34965K AA5 (Rule 144A); U31685 AA5 (Reg S)) (each, a "Note" and collectively, the "Notes"). The Tender Offer to repurchase of a portion of the Notes satisfied a requirement relating to the Company's divestiture of its Fortrea Patient Access and Endpoint Clinical businesses completed in June 2024. Fortrea's purchase of the tendered Notes on November 21, 2025, reduced the principal outstanding on the Notes from $570,000,000 to $494,257,000.

"We're pleased to have completed this Tender Offer as part of our ongoing efforts to optimize Fortrea's capital structure," said Fortrea Chief Financial Officer Jill McConnell. "Fortrea's funding of the transaction entirely with cash on hand reinforces the strength of our balance sheet and demonstrates our disciplined financial management."

According to U.S. Bank Trust Company, National Association, as tender agent for the Tender Offer, the aggregate principal amount of Notes validly tendered and not validly withdrawn on or before the expiration date exceeded $75,744,000 (the "Maximum ...