Published on 8/14/2003 in the Prospect News Convertibles Daily.
New Issue: AtheroGenics sells upsized $80 million convertible at 4.5%, up 22.5%
Nashville, Aug. 14 - AtheroGenics Inc. sold an upsized $80 million of five-year convertible notes at par to yield 4.5% with a 22.5% initial conversion premium in the Rule 144A market via lead manager Morgan Stanley.
The deal, upped from $75 million, sold at the middle of yield talk and the cheap end of premium guidance.
Terms of the new deal are:
Issuer: AtheroGenics Inc.
| Issue: | Convertible subordinated debentures
|
| Lead manager: | | Morgan Stanley
|
| Amount | $80 million, up from $75 million
|
| Greenshoe: | $20 million
|
| Maturity: | Aug. 15, 2008
|
| Coupon: | 4.5%
|
| Price: | Par
|
| Yield: | 4.5%
|
| Conversion premium: | 22.5%
|
| Conversion price: | $15.337
|
| Conversion ratio: | 65.19
|
| Price talk: | 4.0-4.5%, up 22.5-27.5%
|
| Pricing date: | Aug. 12, after the close
|
| Settlement: | Aug. 19
|
| Distribution: | Rule 144A
|
|
|
© 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.
