HALO - Halozyme Therapeutics prices $700M of private debt offering

Halozyme Therapeutics (HALO) has priced $700M of its 0.25% convertible senior unsecured notes due 2027 in a private placement.Initial purchasers to purchase up to an additional $105M of Convertible Notes. Interest will be payable semi-annually in arrearsOffering is expected to close on March 1.Net proceeds estimated to be ~$681.9M (or ~$784.3M if the initial purchasers exercise their option).A portion of the net proceeds will be used to enter into privately negotiated agreements with certain holders of its outstanding 1.25% convertible senior notes due 2024, to exchange their Existing Convertible Notes for a combination of cash and shares.The company expects to pay ~$370.2M in cash and issue ~9.08M shares of its common stock, to settle such exchanges.$75M of the net proceeds will be used to repurchase shares. Net proceeds from the sale of additional Convertible Notes will be used for general corporate purposes.

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Halozyme Therapeutics prices $700M of private debt offering