Incyte buys back $186.2 million in two series of 3.5% convertibles

By Marisa Wong

Milwaukee, Sept. 30 – Incyte Corp. announced that it has repurchased $86.3 million of its 3.5% convertible senior notes due 2011 and $99.9 million of its 3.5% convertible subordinated notes due 2011.

These notes were bought back concurrently with the completion of Incyte’s Rule 144A sale of $400 million of 4.75% six-year convertibles on Wednesday, according to a press release.

Incyte is a Wilmington, Del.-based biopharmaceutical company.

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