Human Genome Sciences, Inc. (HGSI) Message Board

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Biotech / Medical : Human Genome Sciences, Inc. (HGSI)

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From: A.J. Mullen	9/28/2004 11:57:21 AM
	of 1127

Human Genome to sell $200 mln conv debt,shares dip Mon Sep 27, 2004 04:21 PM ET NEW YORK, Sept 27 (Reuters) - Human Genome Sciences Inc. (HGSI.O: Quote, Profile, Research) , a biotechnology company, on Monday said it plans to privately sell $200 million of convertible subordinated notes, and use proceeds to buy back some of its existing convertible subordinated debt. The Rockville, Maryland-based company said it may sell an additional $50 million of the new notes to meet demand. A convertible bond is a stock-bond hybrid that usually offers current income and can be converted into company stock. Shares often fall after a company announces a convertible sale because some investors sell the underlying stock short and the bonds may dilute the stock. Human Genome shares fell 31 cents to close at $12.36 in Monday trading on the Nasdaq. They fell to $11.69 in after-hours trading according to INET.

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