Insulet to use $99 million in buyback of $63.4 million 2% convertibles

By Susanna Moon

Chicago, Nov. 8 – Insulet Corp. said it plans to repurchase about $63.4 million principal amount of its 2% convertible senior notes due 2019 using about $99 million of new issue proceeds.

The company plans to buy back the notes under individually negotiated transactions concurrently with the closing of the notes offering on Nov. 10.

Insulet priced an upsized $350 million of 1.375% convertible senior notes due 2024 in a private placement with a $52.5 million greenshoe, according to a company announcement.

The deal size was increased from $300 million principal amount.

Insulet is a Bedford, Mass.-based medical device maker.

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