Ionis Pharmaceuticals, Inc. announced a proposed Convertible Senior Notes offering to refinance the 2026 Convertible Notes.
The offering involves $700.0 million aggregate principal amount of Convertible Senior Notes due 2030.
The net proceeds from the offering will be used for repurchases of the 0% Convertible Senior Notes due 2026 and general corporate purposes.
Convertible Senior Notes Offer
Ionis intends to offer $700.0 million aggregate principal amount of Convertible Senior Notes due 2030 in a private placement.
Use of Proceeds
The net proceeds will be used for repurchases of the 0% Convertible Senior Notes due 2026 and general corporate purposes.
Interest and Conversion
The notes will accrue interest payable semiannually in arrears, with conversion payment options in cash, shares of common stock, or a combination.
- The offering aims to refinance existing 2026 Convertible Notes, providing Ionis with flexibility and potential debt maturity management.
- The repurchase of the 2026 notes concurrently with the pricing of the new notes could influence market activity and Ionis' common stock price.
Ionis Pharmaceuticals' move to refinance the 2026 Convertible Notes through a proposed offering demonstrates strategic debt management and capital utilization.