Human Genome Sciences buys back $218.1 million 3¾% convertibles, $60.1 million 5% convertibles

New York, Oct. 19 - Human Genome Sciences Inc. said it bought back $218.1 million principal amount of its 3¾% convertible subordinated notes due 2007 and $60.1 million of its 5% convertible subordinated notes due 2007.

The buybacks were funded using all of the proceeds of its recent offering of $280 million principal amount of 2¼% convertible subordinated notes due 2011.

The Rockville, Md., biotechnology firm said the offering of new convertibles closed on Oct. 4 but the underwriters have until Oct. 29 to exercise the remaining $20 million of the $50 million over-allotment option.

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