NEW YORK – Illumina has priced an underwritten public notes offering totaling $500 million, according to a Thursday filing with the US Securities and Exchange Commission.
The notes, priced Wednesday, carry an interest rate of 4.65 percent and are due 2026. Illumina said it expects to close the offering on Sept. 9. In the filing, the firm said it expects to use the proceeds to "repay a portion of the outstanding indebtedness of $750 million under the 364-day delayed draw credit agreement that was entered into in connection with the spinoff of Grail."
JP Morgan, Goldman Sachs, BNP Paribas, and BofA Securities are acting as joint bookrunning managers. Loop Capital Markets, Mizuho, US Bancorp, Academy Securities, R. Seelaus & Co., and Ramirez & Co. are acting as co-managers.
In Thursday trading on the Nasdaq, shares of Illumina closed up around 1 percent at $129.76.