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Convertibles Calendar: Sarepta on tap
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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