United Therapeutics takes $250M loan to buy back stock
This article was originally published in Scrip
Executive Summary
United Therapeutics has priced an offering of $250 million in 1% senior convertible notes due 15 September 2016, and will use part of the proceeds to buy back stock. United will used $212 million of the convertible loan to buy stock, enabling it to repurchase around 8% of its outstanding shares (assuming a price in the current range of $39-40 per share).