Isis planning $425M note deal

Isis Pharmaceuticals Inc. (NASDAQ:ISIS) proposed to raise $425 million in a private placement of senior unsecured convertible notes due 2021.

The company intends to use a portion of the capital to repurchase $140 million of existing convertible senior notes that bear 2.75% interest and mature in 2019. Spokesperson Wade Walke said Isis hopes to negotiate an interest rate of 1% or lower on the new notes. ...