Insmed to redeem $225 million of its 1.75% convertibles due 2025

By Rebecca Melvin

Concord, N.H., May 11 – Insmed Inc. plans to repurchase $225 million of its outstanding 1.75% convertible senior notes due 2025 using proceeds of a new convertible notes offering, according to a company news release on Tuesday.

The company is pricing $500 million of 0.75% convertible notes due 2028 and a $250 million secondary stock offering.

The offerings are expected to close on May 13 and are not contingent on one another.

Insmed is a Bridgewater, N.J.-based biopharmaceutical company.

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