Former CV Therapeutics calls remaining 2.75%, 3.25% convertibles

By Marisa Wong

Madison, Wis., Sept. 22 - Gilead Palo Alto, Inc., formerly CV Therapeutics, Inc., said it will redeem all of its outstanding 2.75% senior subordinated convertible notes due 2012 and all of its outstanding 3.25% senior subordinated convertible notes due 2013.

The convertibles will be redeemed on Oct. 21 at the redemption price plus accrued interest up to the redemption date.

The outstanding 2.75% convertibles, totaling $115,000, will be redeemed at 100.688, and the outstanding 3.25% convertibles, totaling $49,000, will be redeemed at 101.219.

Holders may convert their notes up to the close of business on Oct. 20. The current conversion rate is $1,130.95 per $1,000 principal amount for the 2.75% convertibles and $740.74 per $1,000 principal amount for the 3.25% convertibles.

U.S. Bank NA is the trustee.

Gilead Palo Alto is a subsidiary of Gilead Sciences, Inc., a biopharmaceutical company based in Foster City, Calif.

© 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.