SonoSite aims for expansion with $200m note offer:
This article was originally published in Clinica
Hand-carried ultrasound specialist SonoSite (Bothell, Washington) is set to offer $200m worth of convertible senior notes, with the aim of funding the possible acquisition of complementary businesses or product lines. The proceeds may also be used for debt repayment, capital expenditure, investment in subsidiaries, or as additional working capital. The notes will pay interest twice a year, at a rate of 3.75% each year, and, in certain circumstances, will be convertible based on an initial conversion price of around $38.2 per share. SonoSite has granted the underwriters a 30-day option to buy up to $25m aggregate principal amount of additional notes.