Summary
Amgen Inc. (AMGN) has filed an 8-K report detailing a significant financial action concerning its subsidiary, Onyx Pharmaceuticals. On November 19, 2013, Amgen announced, through Onyx, its intention to redeem all outstanding 4.00% Convertible Senior Notes due 2016. This redemption is scheduled for December 24, 2013, and will involve paying a redemption price of $1,115.99 per $1,000 principal amount. This price includes a substantial make-whole premium of $101.66 per $1,000 principal amount of notes redeemed.
Key Highlights
- 1Amgen, via its subsidiary Onyx Pharmaceuticals, announced the redemption of all outstanding 4.00% Convertible Senior Notes due 2016.
- 2The redemption date is set for December 24, 2013.
- 3The redemption price is $1,115.99 for every $1,000 principal amount of notes.
- 4The redemption price includes a significant 'make-whole' premium of $101.66 per $1,000 principal amount.
- 5As of November 15, 2013, the total outstanding principal amount of these notes was $35,000.
- 6This action signals a move to retire specific debt obligations within Onyx.
- 7The filing is made under Regulation FD disclosure.