BioMarin (BMRN) is set to offer $600M in senior subordinated convertible notes.
Proceeds will go towards working capital and R&D.
The deal's underwriters will have an option on $70M in additional notes.
The company also says it will enter into capped call transactions in connection with 50% of the notes issued, the effect of which will be to "reduce potential dilution to BMRN's common stock upon conversion of the relevant notes in excess of the principal amount of such converted notes." (PR)