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Prospect News home > News index > List of issuers T > Headlines for Tenders 2011 > News item
Published on 5/9/2011 in the Prospect News Convertibles Daily and Prospect News Liability Management Daily.

PDL BioPharma plans buyback of 2% convertibles with offering proceeds

By Toni Weeks

San Diego, May 9 - PDL BioPharma, Inc. announced in a press release that it intends to use the proceeds of its planned $135 million offering of convertible senior notes due May 2015 to repurchase or redeem, at the company's election, its $133.5 million of 2% convertible senior notes due Feb. 15, 2012 from time to time.

PDL is an Incline Village, Nev., biopharmaceutical company.


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