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IVAX extends exchange for 1.5% convertibles
New York, Feb. 14 - IVAX Corp. said it extended its offer to exchange up to $400 million principal amount of new notes with a net share settlement mechanism for its currently outstanding 1.5% convertible senior notes due 2024.
The exchange now ends at midnight ET on Feb. 22, pushed back from midnight ET on Feb. 16.
As announced on Jan. 20, holders who exchange their old notes will receive new notes with the net share settlement feature and otherwise substantially similar terms to the old notes plus an exchange fee of $2.50 per $1,000 principal amount.
There is no minimum tender condition, although there are other conditions.
MacKenzie Partners Inc. is the information agent (call collect 212 929-5000 or 800 322-2885).
IVAX is a Miami-based pharmaceutical company.
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