Beyond Meat’s shares took another hammering as the loss-making alt-protein maker launched a debt swap and equity exchange. Investors will have the option of swapping existing zero percent convertible bonds due in 2027 into notes maturing in 2030 but carrying an interest rate of 7%, along with an exchange of up to circa 326 million in shares. In a statement yesterday (29 September), California-based Beyond Meat said the programme is aimed at eliminating more than $800m in debt. The exchange offer is open ...