|
Issuer / Guarantor
|
Ligand Pharmaceuticals Inc
|
|
Size
|
USD 460mn
|
|
Type
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Convertible
|
|
Leads
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Citigroup, BoA, Stifel Nicolaus, Leerink Partners, Oppenheimer
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|
|
|
|
Maturity
|
01 Oct 2030 (5.1 years)
|
|
Coupon
|
0.75% (0.75 - 1.25%)
|
|
Premium
|
32.5% (27.5 - 32.5%)
|
|
Calls
|
NC3; PC @ 130% w table MW
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|
Puts
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t/o @ 100%
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|
Div protection
|
Ratio adjustment (Full)
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|
T/o protection
|
Make-whole table
|
|
CoCo
|
130% to Jun 2030 (4.9 yrs)
|
|
Announced
|
11 Aug 2025
|
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