Jazz raises $500 million in notes deal

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) raised $500 million through the sale of exchangeable senior notes to institutional investors. The notes bear 1.875% interest and mature Aug. 15, 2021. The notes initially convert at about $199.77, which is a 40% premium to Jazz's close of $142.84 on Wednesday, when the company proposed the offering. Jazz said it plans to use a portion of the funds to repay outstanding debt. ...