Dynavax sells $100 million 10 3/8% notes; Matson eyes $75 million 3.37% notes

By Devika Patel

Knoxville, Tenn., Oct. 27 – Thursday was quiet for private placement news. Berkeley, Calif.-based clinical-stage biopharmaceutical company Dynavax Technologies Corp. said it will conduct a $100 million private placement of 10 3/8% five-year senior secured notes with Deerfield Management Co., LP, and a Honolulu-based operator of ships in the Pacific, Matson, Inc., said it has arranged a $75 million private placement of 3.37% 11-year senior unsecured notes.

Interest on the Dynavax notes, which priced Wednesday, will be payable semiannually. The notes may be prepaid at 106.5 in the first three years, at 106 in the fourth year and at 103 after that.

Proceeds from the Dynavax offering will be used for general corporate purposes, including the commercialization of Heplisav-B.

Proceeds from the Matson notes, which are expected to settle in 90 days, will be used to pay down the company’s revolving credit facility and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.