United States

Innoviva proposes $175 mln offering of convertible senior notes

Monday, 31 Jul 2017 05:49pm EDT 

July 31 (Reuters) - Innoviva Inc :Innoviva announces proposed offering of $175 million of convertible senior notes.Innoviva Inc - ‍intention to offer, subject to market conditions and other factors, $175 million of convertible senior notes due 2025​.Innoviva Inc - ‍may also purchase shares of its common stock in privately negotiated transactions in connection with offering of notes​.Innoviva-To use net proceeds of offering to redeem on next interest payment date of August 15, 2017 portion of principal outstanding under 2029 notes.Innoviva Inc - notes are being offered in connection with company's previously stated plan to refinance its 9.0% fixed rate term notes due 2029.