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Sale of debt nets $727.5mm for BioMarin Pharmaceutical

Executive Summary

Rare disease drug developer BioMarin Pharmaceutical Inc. netted $727.5mm (including the overallotment) through the sale of debt. It offered $375mm of five-year 0.75% senior subordinated notes and $375mm of seven-year 1.50% senior subordinated notes. The notes convert into 10.62 shares per $1k prinicipal amount, equal to $94.15 per share (the current market average is $73.12) and interest is payable semi-annually on April 15 and October 15 each year, starting in 2014.
Deal Industry
  • Pharmaceuticals
  • Biotechnology
    • Large Molecule
Deal Status
  • Final
Deal Type
  • Financing
    • Convertible Debt
    • Private Placement

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