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PDL BioPharma nets $146mm through public notes offering
06 Dec 2016
Executive Summary
PDL BioPharma Inc. (monoclonal antibody therapies for cancer and immune diseases) netted $146mm through the public sale of $150mm principal amount of its 2.75% senior notes due December 2021. The notes convert to common at 262.2951 shares per $1k principal amount purchased, or $3.81 per share. (PDL's stock averaged $3.31 at the time of the sale.) The company will use the majority of the proceeds to repurchase $120mm of its outstanding 4% senior convertible notes due 2018.
Deal Industry
- Pharmaceuticals
-
Biotechnology
-
Large Molecule
- Antibodies
-
Large Molecule
Deal Status
- Final
Deal Type
-
Financing
- Convertible Debt
- FOPO
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Please contact Sales at: (212) 520-2765 or email [email protected]
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PDL BioPharma nets $146mm through public notes offering
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