- PDL BioPharma (PDLI -0.7%) closes its previously announced offering of $150M aggregate principal amount of 2.75% convertible senior notes due December 1, 2021. Underwriters have the option to purchase an additional $22.5M of the notes.
- Net proceeds were ~$145.8M, of which $121.5M will be used to repurchase $120M principal amount of the company's outstanding 4.00% convertible senior notes due 2018 plus ~$1.5M of accrued interest.
- Previously: PDL Bio prices convertible debt offering (Nov. 17)