Millennium Closes Debt Sale

The company sells $250 million of 2.25% convertible senior notes.
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Millennium Pharmaceuticals

(MLNM)

said Wednesday that it closed its sale of $250 million of 2.25% convertible senior notes due Nov. 15, 2011.

The aggregate principal amount of notes sold reflects the full exercise by the underwriters of their option to purchase $25 million of notes to cover overallotments, the Cambridge, Mass.-based company said.

The notes have an initial conversion rate of 64.6465 shares for every $1,000 principal amount of the notes, which is equivalent to a price of about $15.47 a share.

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