Isis Pharmaceuticals intends to offer, subject to market and other considerations, $175.0 million aggregate principal amount of Convertible Senior Notes due 2019 in a private placement financing.
Isis also intends to grant to the initial purchasers of the Convertible Notes a 30-day option to purchase up to an additional $26.25 million aggregate principal amount of the Convertible Notes solely to cover over-allotments.
Isis may use a portion of the net proceeds of this offering to repurchase a portion of its outstanding 2 5/8% Convertible Subordinated Notes due 2027 in individually negotiated transactions concurrently with the offering.
The Convertible Notes will be general unsecured senior obligations of Isis and will accrue interest payable semiannually in arrears.
The interest rate, conversion rate and other terms of the Convertible Notes will be determined at the time of pricing of the offering.
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