PRINCETON, N.J.--(BUSINESS WIRE)--PharmaNet Development Group, Inc. (the “Company”) (NASDAQ: PDGI), announced that it intends to commence today an offer to exchange all of its outstanding $143,750,000 aggregate principal amount 2.25% Convertible Senior Notes due 2024 (the “outstanding notes”), for $115,000,000 aggregate principal amount of 8.0% Convertible Senior Notes due 2014 (the “new notes”) and cash, as further described below. The new notes will be a separate series of debt securities and have their own CUSIP number.
