|
|
Article: Invitrogen Prices $325M Worth Of Notes, Keeps Buying Power.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Associate Managing Editor
Replacing cash needed for its acquisition of Molecular Probes Inc., Invitrogen Corp. priced $325 worth of notes sold to institutional buyers.
The 2 percent senior convertible notes are due 2023 and Invitrogen, of Carlsbad, Calif., granted purchasers a 13-day option to buy another $48.75 million aggregate principal amount in notes. The sale is expected to close Friday.
"We have done convertible bonds in the past and we think they offer an attractive interest rate, compared to a straight debt financing," said Paul Goodson, vice president of investor relations at Invitrogen. "We were able to get some attractive terms on ...