Salix planning $500M note deal

Salix Pharmaceuticals Ltd. (NASDAQ:SLXP) proposed to sell $500 million of senior convertible notes due 2019. The notes will be convertible into cash, shares or a combination of both at Salix's election. The company plans to use the proceeds to repurchase a portion of its outstanding 5.5% convertible senior notes due 2028 and to repurchase up to $50 million of its outstanding shares in off-market transactions. ...