Sarepta Therapeutics issues $1.13B in convertible notes, repays $585.5M term loan

Sarepta Therapeutics, Inc.

Issued $1.13B aggregate principal of 1.25% Convertible Senior Notes due 2027 to initial purchasers including Goldman Sachs and J.P. Morgan.
Sold $20M in notes to Michael A. Chambers Living Trust, an affiliate of board member Michael Chambers.
Prepaid $585.5M term loan from BioPharma Credit, including $7M prepayment premium, terminating the Loan Agreement.
Used proceeds to repurchase $150.6M of existing 1.50% Convertible Senior Notes due 2024.
Entered capped call transactions with five counterparties to reduce potential dilution upon conversion of the notes.

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