Theravance accepts all $230 million tendered 3.25% convertibles

By Marisa Wong

Los Angeles, Aug. 25 – Theravance Biopharma, Inc. accepted for purchase all of the notes tendered under its cash offer for any and all of its $230 million outstanding 3.25% convertible senior notes due 2023, according to an 8-K filing with the Securities and Exchange Commission.

The tender offer began on July 26 and expired at 5 p.m. ET on Aug. 23.

As of the expiration time, all $230 million of the notes had been tendered. The tendered notes were purchased at $1,000 for each $1,000 principal amount, plus accrued interest up to but excluding the payment date.

The company settled the offer on Thursday, paying an aggregate consideration of roughly $232.4 million, including accrued interest.

Evercore Group LLC (888 474-0200) was dealer manager for the offer.

Theravance is a biopharmaceutical company focused on developing medicines that address significant unmet patient needs. The company has headquarters in South San Francisco, Calif., and Dublin.

© 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.