Convertibles Calendar: Alnylam, Sarepta on tap

Sept. 12

ALNYLAM PHARMACEUTICALS INC.:

• $900 million five-year convertible notes

• $135 million greenshoe

• Coupon of 1.25% to 1.75% and initial conversion premium of 30% to 35%

• Non-callable until Sept. 20, 2025 and then subject to a 130% hurdle

• Rule 144A

• J.P. Morgan Securities LLC

• Cover the cost of the call spread, to repay borrowings and terminate its current credit agreement and for general corporate purposes.

• Cambridge, Mass.-based biopharmaceutical company focused on RNA interference therapeutics

Sept. 13

SAREPTA THERAPEUTICS INC.:

• $1 billion five-year convertible notes

• $150 million greenshoe

• Coupon of 1.25% to 1.75% and initial conversion premium of 32.5% to 37.5%

• Non-callable until Sept. 20, 2025 and then subject to a 130% hurdle

• Rule 144A

• J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC

• Cover the cost of the call spread, repurchase for cash a portion of its 1.5% convertible notes due 2024 in privately negotiated transactions, repay and terminate its credit agreement and general corporate purposes.

• Cambridge, Mass.-based biopharmaceutical company

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