trending Market Intelligence /marketintelligence/en/news-insights/trending/EAKjiLeOKUL547xrhF6TzA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Sucampo Pharmaceuticals issues $300M of convertible senior notes

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform


Sucampo Pharmaceuticals issues $300M of convertible senior notes

Sucampo Pharmaceuticals Inc. issued $300 million of 3.25% convertible senior notes due Dec. 15, 2021.

The issued notes included $40 million of notes sold under an overallotment option to acquire additional notes.

Interest on the notes is payable semiannually in cash in arrears on June 15 and Dec. 15 of each year, starting June 15, 2017.

Sucampo estimates that the net proceeds from the note offering will be $290.4 million.

The company plans to use the net proceeds to repay in full about $238.4 million due under its senior secured credit facility, including all accrued but unpaid interest and a prepayment premium. It intends to use the remaining net proceeds for general corporate purposes.

The notes are convertible at an initial conversion rate of 60.2637 class A common shares per $1,000 of the notes, which is equal to an initial conversion price of about $16.59 per share. Upon conversion, the notes will be settled in the company's common shares, along with a cash payment for delivering any fractional share.

Leerink Partners LLC served as the sole book-running manager of the issue.