Ionis Pharma Raises $500M Via Private Placement Of Convertible Senior Notes
Portfolio Pulse from Benzinga Newsdesk
Ionis Pharmaceuticals (NASDAQ: IONS) has priced a $500 million private placement of 1.75% Convertible Senior Notes due 2028. The company also granted initial purchasers an option to buy up to an additional $75 million of notes. Ionis expects to use the net proceeds to repurchase $434.1 million of its 0.125% Convertible Senior Notes due 2024 and for general corporate purposes.
June 08, 2023 | 9:12 am
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Ionis Pharmaceuticals raises $500M through private placement of Convertible Senior Notes, with potential for an additional $75M. Proceeds to be used for repurchasing 2024 notes and general corporate purposes.
The private placement of Convertible Senior Notes will provide Ionis Pharmaceuticals with additional capital, which will be used to repurchase its 2024 notes and for general corporate purposes. This move is likely to have a positive short-term impact on the company's stock price, as it demonstrates the company's ability to raise funds and manage its debt obligations.
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