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GSK holders have repurchase rights through Sept. 16 for 2023 notes
By Mary-Katherine Stinson
Lexington, Ky., Aug. 3 – GSK plc said its wholly owned subsidiary, GSK Finance (No. 3) plc, started a cash tender offer for any and all its outstanding exchangeable senior notes due 2023 (Cusip: 36259RAA0), according to a 6-K filing with the Securities and Exchange Commission.
The notes, which were issued in June 2020, are exchangeable into shares of Theravance Biopharma Inc.
Holders may require the company to repurchase all or part of their notes at par.
Repurchase rights expire at 5 p.m. ET on Sept. 16.
As of Aug. 3, approximately $280 million of the notes are outstanding.
GSK plc, formerly GlaxoSmithKline, is a Brentford, U.K.-based pharmaceutical company.
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