By Susanna Moon
Chicago, April 27 – Teligent, Inc. said it will issue about $65 million principal amount of 4.75% senior convertible notes due May 1, 2023 in exchange for $65 million of its 3.75% senior convertible notes due 2019.
The exchange will be made under separate, privately negotiated exchange agreements with holders of Teligent’s 3.75% convertibles, according to a company announcement.
The 2023 notes will be convertible at an initial conversion rate of 224.7191 shares per $1,000 principal amount.
The exchange will be completed on May 1.
After the exchange, the outstanding of the 3.75% convertibles due 2019 is expected to be $78 million.
Teligent is a specialty generic pharmaceutical company based in Buena, N.J.
Exchange issue
| Issuer: | Teligent, Inc.
|
| Issue: | Senior convertible notes
|
| Amount: | $65 million
|
| Maturity: | May 1, 2023
|
| Coupon: | 4.75%
|
| Settlement date: | May 1
|
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