Illumina to repurchase some 0.25% convertibles via new convertibles

By Tali Rackner

Norfolk, Va., June 4 - Illumina, Inc. plans to repay a portion of its 0.25% convertible senior notes due 2016 with the proceeds from a new convertible note offering, according to a company press release.

The remaining proceeds will be used for general corporate purposes.

The company plans to offer $450 million of convertibles due 2019 and $450 million of convertibles 2021.

Illumina is a San Diego-based developer of genetic research tools.

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