CV Therapeutics brings buybacks of 4¾% convertibles to $101.6 million

New York, May 14 - CV Therapeutics Inc. said it has now reached agreements to buy back $101.6 million of its 4¾% convertible subordinated notes due 2007.

The Palo Alto, Calif.-based biotechnology company previously said it had agreements to repurchase $71.6 million of the securities in connection with its sale of $125 million of new 2¾% convertible subordinated notes due 2012.

The agreements are for privately negotiated transactions.

CV Therapeutics priced the new convertibles after the close on May 12 to yield 2.75% with a 27.5% initial conversion premium.

Merrill Lynch & Co. was bookrunner for the Rule 144A offering.

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