Wyeth notes result of offer relating to convertible debentures
17 July 2009 00:00 in Pharmaceutical Company Financials
Wyeth has announced that it has accepted for purchase all outstanding floating rate convertible senior debentures, due 2024, in accordance with previously established agreements.
In a statement, the organisation explained that the purchase date expired on July 14th and following this the firm acquired all convertible debentures that were validly tendered and not withdrawn as of the exercise date.
Based on data provided by the Bank of New York Mellon, which acted as the trustee and paying agent for the put option, around 97.1 per cent of the aggregate principal amount of the outstanding convertible debentures were validly tendered and accepted for purchase.
"The aggregate purchase price for the accepted convertible debentures of $765,139,000 (467.1 million pounds), which was deposited with the depository trust company (DTC) on July 15th 2009, will be delivered promptly to tendering holders by DTC," Wyeth concluded.
In recent days, Wyeth announced the availability of its new Centrum Ultra range of multivitamins.
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