Affymetrix to redeem 4¾% convertibles

New York, Jan. 20 - Affymetrix Inc. said it will redeem its 4¾% convertible subordinated notes due 2007 on Feb. 19.

The Santa Clara, Calif., biotech firm will pay 101.58% of par for the convertibles plus accrued interest through Feb. 18.

Affymetrix currently has $165 million of the securities outstanding.

Funding for the redemption will come from the company's sale of $120 million of 0.75% senior convertible notes due 2033 and from available cash.

© 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.