BioMarin Pharmaceutical Inc. (BMRN) Completes Additional Partial Exchange of Convertible Notes Due 2017 for Common Stock
3/25/2013 10:34:59 AM
SAN RAFAEL, Calif., March 25, 2013 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) announced today that an additional six holders of its 1.875% Convertible Senior Subordinated Notes due 2017 have agreed to exchange $75.8 million in aggregate principle amount of the notes for approximately 3.7 million shares of the Company's common stock. This, combined with the seven holders that exchanged $139.2 million in aggregate principal amount of the notes for approximately 6.8 million shares of the Company's common stock, yields a total of $215.0 million in aggregate principal amount of the notes exchanged for approximately 10.6 million shares of common stock. The notes represented approximately 66% of the previously outstanding principal amount. Approximately $110 million of the notes remain outstanding as of March 22, 2013.