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Convertibles Calendar: XenoPort to price $100 million; Performant Financial on tap
January 29
XENOPORT INC.:
$100 million convertible senior notes
$15 million greenshoe
Maturity 2022
Rule 144A
Non-callable for life
Takeover and dividend protection
Credit Suisse Securities (USA) LLC as bookrunner
Proceeds to continue to commercialize Horizant, for further clinical development, including its XP23829 product candidate, and for general corporate purposes
Santa Clara, Calif.-based XenoPort is a biopharmaceutical company.
Nasdaq listing: XNPT
PERFORMANT FINANCIAL CORP.:
$80 million convertible senior notes
Maturity 2020
Concurrent $50 million offering of common stock
Registered
Non-callable for life
Takeover and dividend protection
Joint bookrunners Morgan Stanley & Co. LLC and SunTrust Robinson Humphrey Inc.
Proceeds to complete the companys acquisition of Premier Healthcare Exchange Inc., or if the acquisition is not completed, to repay debt under the companys senior secured credit facility
Livermore, Calif.-based provider of technology to help identify and recover delinquent or defaulted assets and improper payments
Nasdaq listing: PFMT
On The Horizon
INOTEK PHARMACEUTICALS CORP.:
Convertible senior notes
Maturity 2019
Concurrent initial public offering of common stock
Registered
Non-callable for life
Takeover and dividend protection
Joint bookrunners Cowen & Co. LLC, Piper Jaffray & Co., Canaccord Genuity Inc. and Nomura Securities International Inc.
Proceeds to fund the continued development of its pharmaceutical candidates and for other general corporate purposes, including repayment of borrowings under and the termination of existing notes payable agreements
Beverly, Mass.-based development-stage pharmaceutical company
Proposed Nasdaq listing: ITEK
CARNIVAL GROUP INTERNATIONAL HOLDING LTD.:
Unsecured senior convertible bonds
Bookrunner Deutsche Bank AG, Hong Kong Branch
Regulation S
Concurrent equity swap with Deutsche Bank AG, London Branch as equity swap counterparty
Proceeds to fund existing and new projects; entry into the equity swap; and for working capital and other general corporate purposes
Bermuda-based investment holding company engaged in leisure and consumption businesses
Hong Kong: 00996
PLATFORM SPECIALTY PRODUCTS CORP.:
Convertible securities as part of a funding package of cash, convertibles, debt and equity
Proceeds to fund $3.51 billion acquisition of Arysta LifeScience Ltd., a Tokyo-based provider of agrochemical and biological products
Barclays, Credit Suisse Securities (USA) LLC, Nomura Securities International LLC and UBS AG acted as M&A advisers and have committed financing for the acquisition
Anticipated closing in first quarter 2015
Miami-based specialty chemicals company
NYSE: PAH
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