Human Genome Sciences Prices $430 Million Convertible Notes Issuance
Human Genome Sciences, Inc. (Nasdaq: HGSI) today announced that it has priced an underwritten public offering of $430 million aggregate principal amount of Convertible Senior Notes due 2018, which was upsized from the previously announced $400 million offering. Citigroup is acting as the underwriter. The underwriter has the option to purchase up to an additional $64.5 million aggregate principal amount of notes from the company, within 30 days. The offering is expected to close on November 7, 2011, subject to customary closing conditions.
The notes will be the company's general unsecured senior obligations. The notes will pay interest semi-annually on May 15 and November 15, beginning on May 15, 2012, at a rate of 3.00% per year, and will mature on November 15, 2018.
