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.

© 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.