DUBLIN, Oct. 26, 2016 /PRNewswire/ -- Theravance Biopharma, Inc. (NASDAQ:
The interest rate, conversion rate and other terms of the Notes will be determined at the time of pricing of the Notes Offering. The Notes will be general unsecured obligations of the Company and will pay interest semi-annually on May 1 and November 1 of each year. The Notes will mature on November 1, 2023, unless earlier repurchased or converted. The Notes will be convertible into ordinary shares of the Company at the then-applicable conversion rate until the close of business on the second business day immediately preceding the stated maturity date. The Notes will not be redeemable at the Company's option prior to maturity except in connection with certain changes in tax laws. Holders of the Notes will have the right to require the Company to repurchase all or any portion of their notes at 100% of their principal amount, plus any accrued and unpaid interest, upon the occurrence of certain fundamental change events.
The Company intends to use the net proceeds of the offerings for general corporate purposes, which may include, among other...