Ilumina to offer up to $1B in new debt

|By:, SA News Editor

Illumina (ILMN +0.8%) plans to offer $900M in convertible senior notes, half due in 2019 and half due in 2021. Underwriters over-allotment will be an additional $67.5M for each tranche bringing the total potential debt offering to $1.035B. Proceeds will be used to retire a portion of the company's 0.25% Convertible Senior Notes due 2016 and for general corporate purposes.