Halozyme and Halliburton announce major financial and contract developments

Halozyme has successfully increased its senior convertible bond offering to $1.3 billion. The company intends to use the net proceeds primarily for debt restructuring, including capped-call transactions and the early repurchase of bonds maturing in 2027 and 2028. The bonds carry a 1.50% annual coupon and mature in 2033.

Separately, Halliburton has secured a multi-year integrated service contract from Eni for the Cronos ultra-deepwater gas project off the coast of Cyprus. The contract covers various services including drilling planning, fluids, and cementing. Following this development and Q2 2026 financial results, UBS raised its price target for Halliburton to $42, maintaining a neutral rating.