Amarin unit calls $133,000 of remaining 3.5% exchangeables due 2032

By Susanna Moon

Chicago, Feb. 15 – Amarin Corp. plc issued a redemption notice on Feb. 3 for its $133,000 of remaining 3.5% exchangeable senior notes due 2032 issued by a subsidiary as part of a debt restructuring and related private placement.

The notes will be redeemed on March 20 at redemption price of $133,840.49, or par plus accrued interest to but excluding the redemption date, according to a company announcement.

The notes are exchangeable at a rate of 113.4752 ADS, for an exchange price of $8.8125, at any time before the close of business on the business day just before the redemption date.

As announced Jan. 20, Amarin purchased $15 million of 3.5% exchangeables under separate, privately negotiated purchase agreements with holders.

Under the terms, the company’s wholly owned subsidiary Corsicanto II DAC issued $30 million principal amount of 3.5% exchangeable senior notes due 2047 guaranteed by Amarin at an issue price of 100%.

The company was required by the note terms to purchase all of the 2012 notes surrendered on Thursday.

Amarin is a Dublin-based biopharmaceutical company focused on the commercialization and development of therapeutics to improve cardiovascular health.

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