Salix Pharmaceuticals in $60 Million Convertible Notes Offering
August 22, 2008
Cleary Gottlieb represented Banc of America Securities LLC, as representative of the initial purchasers, in a $60 million Rule 144A offering by Salix Pharmaceuticals, Ltd. of 5.5% senior convertible notes due 2028. The transaction, which included full exercise of the initial purchasers' over-allotment option, closed on August 22.
Salix is a specialty pharmaceutical company dedicated to acquiring, developing and commercializing prescription drugs used in the treatment of a variety of gastrointestinal diseases, or diseases affecting the digestive tract.