ARTICLE | Financial News

Vertex raises $375M in note deal

September 24, 2010 12:12 AM UTC

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) raised $375 million in an offering of convertible senior subordinated notes due 2015. The notes bear 3.35% interest and convert into stock initially at $48.83, which is a 35% premium to Vertex's close of $36.17 on Wednesday, before the offering was proposed. BofA Merrill Lynch was underwriter. ...