ViroPharma to price $200 million 10-year convertibles Tuesday, talked at 2%-2.5%, up 27.5%-32.5%

By Kenneth Lim

Boston, March 19 - ViroPharma Inc. plans to price $200 million of 10-year convertible senior notes on Tuesday after the market closes, talked at a coupon of 2% to 2.5% and an initial conversion premium of 27.5% to 32.5%.

The notes will be offered at par.

There is an over-allotment option for a further $30 million.

Goldman Sachs is the bookrunner of the registered offering.

The notes will be non-callable and may not be put.

There will be a contingent conversion trigger at 130% of the conversion price.

The notes will have dividend and takeover protection.

There will be net-share settlement.

ViroPharma, an Exton, Pa.-based pharmaceutical company, plans to use the proceeds of the deal to fund convertible note hedge and warrant transactions and for general purposes.

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