Supernus plans $75 million convertible notes due 2019 to yield 7%-7.5%, up 15%-20%

By Rebecca Melvin

New York, April 24 - Supernus Pharmaceuticals Inc. launched an offering of $75 million of convertible senior notes due 2019 after the market close Wednesday that was seen pricing after the market close on Thursday, according to market sources.

Price talk on the notes is for a 7% to 7.5% coupon and a 15% to 20% initial conversion premium.

The Rule 144A deal, which is pricing via joint bookrunners Jefferies & Co. and Piper Jaffray & Co., has a $15 million greenshoe.

Supernus is a Rockville, Md.-based specialty pharmaceutical company focusing on treatment of central nervous system diseases, including epilepsy.

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