Isis Pharmaceuticals calls $162.5 million all convertibles due 2027

By Tali David

Minneapolis, Aug. 13 - Isis Pharmaceuticals, Inc. plans to redeem all $162.5 million of its outstanding 2 5/8% convertible subordinated notes due 2027, according to a press release

The notes will be redeemed at 100.75 on Sept. 12.

The notes are convertible at any time before 5 p.m. ET on Sept. 11, at a rate of 68.3761 shares of common stock per $1,000 principal amount of the notes converted.

If any notes are surrendered for conversion, the conversion will be settled in cash, Isis said.

Wells Fargo Bank, NA is the trustee.

Isis is a Carlsbad, Calif.-based drug maker focused on cardiovascular, metabolic, inflammatory and ocular diseases and cancer.

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