SAN DIEGO--(BUSINESS WIRE)--Illumina, Inc. (NASDAQ:ILMN) today announced its intention to offer, subject to market and other conditions, approximately $325 million principal amount of Convertible Senior Notes due 2014 through offerings to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The notes will be convertible under certain circumstances. Upon conversion, holders will receive cash up to the principal amount, and any excess conversion value will be delivered in shares of Illumina’s common stock. Illumina also expects to grant the initial purchasers an option to purchase up to $50 million of additional notes. The interest rate, conversion price and other terms of the notes will be determined by negotiations between Illumina and the initial purchasers of the notes.
