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Cubist Pharmaceuticals, Inc. $800 Million Convertible Senior Notes Offering

18 Sep 2013

Davis Polk advised Morgan Stanley & Co. LLC, Barclays Capital Inc. and RBC Capital Markets, LLC as the initial purchasers in connection with a Rule 144A offering by Cubist Pharmaceuticals, Inc. of $350 million aggregate principal amount of its 1.125% convertible senior notes due 2018 and $450 million aggregate principal amount of its 1.875% convertible senior notes due 2020. In addition, Davis Polk advised Morgan Stanley & Co. International plc, Barclays Bank PLC and Royal Bank of Canada as counterparties to convertible note hedge and warrant transactions in connection with the offering. 

Headquartered in Lexington, Massachusetts, Cubist Pharmaceuticals, Inc. is a biopharmaceutical company focused on the research, development and commercialization of pharmaceutical products that address unmet medical needs in the acute care environment.

The Davis Polk corporate team included partners Richard D. Truesdell Jr. and John G. Crowley, associate Derek Dostal and law clerk Julia Danforth. The Davis Polk derivatives team included partner Ray Ibrahim and associates Noah L. Wynkoop, Katharine O’Banion and Peter H. Chin. The tax team included partner Samuel Dimon, associate William A. Curran and law clerk Vinay Prabhakar. The intellectual property team included associate Bruce Rose-Innes and law clerk Natalie A. Thomas. Counsel Loyti Cheng and associate Michael Comstock provided environmental advice. Sorina Delia Lazar was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.

Matter Type
Banking & Finance - Capital Markets: Equity
Industry
Finance & Banking
News Category
Banking & Finance