News
Talecris selling notes to pay off debt
San Francisco Examiner
RESEARCH TRIANGLE PARK, N.C. — Talecris Biotherapeutics said Tuesday it started a $550 million private placement of senior notes, which will be used to pay back term loans and borrowings.
Talecris is the manufacturer of Prolastin, an augmentation therapy for Alpha-1 Antitrypsin Defiency. The company also makes several other plasma-derived protein therapies, including drugs used to treat immune disorders.
The biotechnology company said the notes will be due in 2016. It will use the proceeds to repay its first two term loans and some borrowings from its revolving credit facility, and pay related costs.
Talecris completed its initial public offering on Sept. 30, and the shares finished at $21.35 on Monday. It was $2.35 above the company’s initial share price of $19.
