Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Affymetrix, Inc. > News item |
Affymetrix plans $100 million convertible to redeem old issues
By Ronda Fears
Nashville, Dec. 8 - Affymetrix Inc. announced late Monday plans to sell $100 million of 30-year convertible senior notes with proceeds, along with cash, to redeem its other two convertible issues that together have $267.5 million outstanding.
The Rule 144A new issue will have puts in years five, 10, 15, 20 and 25.
No other information was available at press time.
On Tuesday, the Santa Clara, Calif.-based biotech firms said in plans to announce the redemption of its 5% convertible subordinated notes due 2006, which has $102 million currently outstanding. Subject to the completion of the new convertible offering, the company said it also plans to redeem its 4.75% convertible subordinated notes due 2007, which has $165.5 million currently outstanding, and will fund the redemption with the proceeds from the sale of the notes and available cash.
The Affymetrix 5% convertibles were quoted flat at 100.5 bid.
The Affymetrix 4.75% convertibles were quoted down 1 point to 96 bid, 97 offered.
Affymetrix shares closed Monday up 48c, or 1.93% to $25.31.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.