Isis raises $425M in note deal

Isis Pharmaceuticals Inc. (NASDAQ:ISIS) raised $425 million through the sale of senior unsecured convertible notes. The notes bear 1% interest, mature in 2021 and initially convert at $66.81.

The company will use a portion of the funds to repurchase $140 million of existing convertible senior notes that bear 2.75% interest and mature in 2019. ...