SAN RAFAEL, Calif., Oct. 9, 2013 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) announced the pricing on October 8, 2013 of a total offering of $680 million of its senior subordinated convertible notes consisting of $340 million 0.75% Senior Subordinated Convertible Notes due 2018 (the "2018 Notes") and $340 million 1.50% Senior Subordinated Convertible Notes due 2020 (the "2020 Notes" and together with the 2018 Notes, the "Notes"). The Notes will be issued at a price equal to 100% of the principal amount thereof. BioMarin intends to use the net proceeds from the offering for general corporate purposes, including working capital and research and development. In addition, BioMarin intends to use $27.03 million of the net proceeds of the offering for the payment of the cost of the capped call transactions described below. The offering of the Notes is expected to close on October 15, 2013, subject to the satisfaction of customary closing conditions.
BioMarin Announces Pricing Of $340 Million Of Senior Subordinated Convertible Notes Due 2018 And $340 Million Of Senior Subordinated Convertible Notes Due 2020
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.