The Medicines Company Announces Intention To Offer $300 Million Of Convertible Notes

PARSIPPANY, N.J.--(BUSINESS WIRE)--The Medicines Company (NASDAQ:MDCO) (the “Company”) today announced that it proposes to offer $300 million aggregate principal amount of its convertible senior notes due 2022, subject to market conditions and other factors. The notes are to be offered and sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The notes will be convertible, upon certain conditions, into cash up to their principal amount and, with respect to any excess conversion value, shares of the Company’s common stock. The interest rate, conversion rate, offering price, redemption rights and other terms will be determined by negotiations among the Company and the initial purchasers of the notes. The Company also expects to grant to the initial purchasers a 30-day option to purchase up to an additional $45 million aggregate principal amount of the notes.

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