Amicus Therapeutics Inc. raised $250 million in a senior notes offering to refinance some of its existing debt.
The amount includes $25 million raised as a result of purchasers' decision to exercise their overallotment option.
The notes offer a 3% coupon, payable semiannually starting June 15, 2017, and are convertible into Amicus shares at an initial rate of $6.12 per share for every $1,000 principal note tendered.
The notes mature on Dec. 15, 2023, and help Amicus refinance $82.2 million of its debt. The remaining net proceeds will be used for general corporate purposes.
Goldman Sachs & Co., J.P. Morgan Securities LLC, BofA Merrill Lynch and Leerink Partners LLC acted as book runners of the offering, with Cowen and Co. acting as lead manager.