GSK holders have repurchase rights through Sept. 16 for 2023 notes

By Mary-Katherine Stinson

Lexington, Ky., Aug. 3 – GSK plc said its wholly owned subsidiary, GSK Finance (No. 3) plc, started a cash tender offer for any and all its outstanding exchangeable senior notes due 2023 (Cusip: 36259RAA0), according to a 6-K filing with the Securities and Exchange Commission.

The notes, which were issued in June 2020, are exchangeable into shares of Theravance Biopharma Inc.

Holders may require the company to repurchase all or part of their notes at par.

Repurchase rights expire at 5 p.m. ET on Sept. 16.

As of Aug. 3, approximately $280 million of the notes are outstanding.

GSK plc, formerly GlaxoSmithKline, is a Brentford, U.K.-based pharmaceutical company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.