Alexion Pharmaceuticals Finds $150 Million From Notes Sale

Alexion Pharmaceuticals in Cheshire, Conn., has completed the sale of $150 million principal amount of convertible senior notes due 2012 to unnamed institutional buyers. The closing included the exercise in full by the initial purchasers of their option to purchase an additional $25 million principal amount of notes. According to the company, the net proceeds from this offering will be applied to redeem Alexion's outstanding $120 million principal amount of convertible subordinated notes due 2007 and for general corporate purposes.

Mass High Tech (http://www.masshightech.com/displayarticledetail.asp?Art_ID=67697)