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ImClone considers refinancing 1.375% convertibles ahead of May put
By Angela McDaniels
Tacoma, Wash., Nov. 11 - ImClone Systems Inc. is evaluating payment and refinancing options for its $600 million 1.375% convertible notes due 2024, according to its 10-Q report for the third quarter filed with the Securities and Exchange Commission.
The company said it expects the holders of the convertibles will exercise their put option in May.
The convertibles also become callable in May.
ImClone is a biopharmaceutical company based in New York that develops targeted treatments for cancer.
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