Ironwood places $150 million 8.375% notes; High Speed Rail Finance might price offering

By Devika Patel

Knoxville, Tenn., Sept. 26 – Ironwood Pharmaceuticals, Inc. completed a $150 million private placement of 8 3/8% notes due 2026, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds will be used to redeem all $143 million of the remaining Linaclotide PhaRMA 11% notes due 2024.

Cambridge, Mass.-based Ironwood is a pharmaceutical company with treatments for gastrointestinal illnesses.

High Speed Rail Finance plc said it is considering a private placement of senior secured guaranteed notes.

Proceeds will be on-lent to HS1 Ltd. and used for its general corporate purposes.

The company is a subsidiary of London-based HS1, which manages the railroad between London’s St. Pancras station and the Channel Tunnel.

Covent Garden Group Holdings Ltd. has signed an agreement with five U.S. institutional investors for a £175 million private placement of senior notes in two tranches, according to a press release from Capital & Counties Properties plc.

The company priced £125 million of 2.28% notes due 2026 and £50 million of 2.37% notes due 2028.

Settlement of the new notes is expected in November.

Proceeds will be used to repay the company’s December 2015 £705 million bank revolving credit facility, to strengthen the group’s capital structure and to provide greater financial flexibility and resources.

The holding company for Capital & Counties Properties plc’s Covent Garden assets is based in London.

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