BioMarin Pharmaceutical Inc. Announces Proposed Offering of $300 Million of Senior Subordinated Convertible Notes Due 2018 and $300 Million Senior Subordinated Convertible Notes Due 2020
Published: Oct 08, 2013
SAN RAFAEL, Calif., Oct. 7, 2013 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) announced today an offering, subject to market and other conditions, of $600 million of its senior subordinated convertible notes consisting of $300 million Senior Subordinated Convertible Notes due 2018 (the "2018 Notes") and $300 million Senior Subordinated Convertible Notes due 2020 (the "2020 Notes" and together with the 2018 Notes, the "Notes"). BioMarin intends to use the net proceeds from the offering for general corporate purposes, including working capital and research and development. In addition, the Company intends to use a portion of the net offering proceeds to fund payment of the cost of the capped call transactions described below. The Notes will be convertible into BioMarin common stock at a price to be determined.
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