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May 18, 2018updated 21 May 2018 3:09pm

Deals this week: GlaxoSmithKline, Ligand, Catalent Pharma Solutions

GlaxoSmithKline Plc (GSK) has issued 1.25% international bonds due May 2026 in a public offering to raise ‎€1bn ($1.19bn). 

GlaxoSmithKline Plc (GSK) has issued 1.25% international bonds due May 2026 in a public offering to raise ‎€1bn ($1.19bn).

The company has also issued 1.75% international bonds due May 2030, and international bonds due May 2020 in a public offering to raise €750m ($897.11m) and €750m ($897.11m) respectively.

The company has appointed Barclays Capital Inc BNP Paribas Securities Corp, Citigroup Global Markets Inc, and Mizuho Financial Group Inc as book runners for the transaction.

Clearstream Banking SA and Euroclear Bank SA acted as depository to the company for the transaction.

US-based Ligand Pharmaceuticals Incorporated has plans to issue convertible senior notes due 2023 in a private placement to raise $650m.

Institutional investors will subscribe to the placement.

The initial buyers will be granted a 13-day option to purchase up to $100m-worth of additional notes.

“The initial buyers will be granted a 13-day option to purchase up to $100m-worth of additional notes.”

Ligand and the initial purchasers will determine the initial conversion rate, interest rate and certain other terms of the notes.

Ligand plans to use proceeds for the cost of certain convertible note hedge transactions, to repurchase $50m worth of Ligand’s common stock, and to acquire or invest in new businesses, companies, products, and technologies.

The company also plans to use funds for working capital and other general corporate purposes, including research and development (R&D) activities.

Catalent Pharma Solutions LLC has signed an agreement with Valerius Biopharma AG to develop and produce the latter’s biosimilar products.

Catalent will offer its proprietary GPEx technology for cell line development and support cGMP manufacturing activities between phase one and commercial development at its production facility located in Madison, Wisconsin, as part of the agreement.

Based in the US, Catalent is a pharmaceutical company and a subsidiary of Catalent Inc.

The agreement enables both the companies to develop and produce biosimilar products using proprietary GPEx technology.

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