Algeta raises $120 million in bond deal

Algeta ASA (OSE:ALGETA) raised $120 million through the sale of convertible senior unsecured bonds due 2018. The bonds bear a 3.4% coupon and initially convert at $52.50. ABG Sundal Collier and Goldman Sachs are joint bookrunners. DNB Markets is co-manager.

Algeta and partner Bayer AG (Xetra:BAYN) market Xofigo radium-223 dichloride in the U.S. to treat castration-resistant prostate cancer (CRPC) in patients with symptomatic bone metastases. The partners launched Xofigo, a radiopharmaceutical based on the alpha particle emitter radium-223, in May. Algeta reported 2Q13 net U.S. Xofigo sales of NOK3 million ($523,651). ...