March 17, 2009
Sepracor Completes Tender Offer
By Matthew L. Brown
Marlborough-based drug maker Sepracor Inc. has completed a $139 million tender offer for some of its outstanding convertible notes.
Concluding at 12 a.m. this morning, the offer was for the company's 0 percent convertible senior subordinated notes, which come due in 2024.
The company, through a depository trust company, will pay cash to the holders of the notes. The transaction leaves $239 million in Sepracor notes outstanding.
Sepracor is the maker of sleep drug Lunesta and other pharmaceuticals.
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