March 04, 2016
Gilead Sciences Announces Settlement Method for 1.625% Convertible Senior Notes Due 2016
FOSTER CITY, Calif.--(BUSINESS WIRE)--Mar. 4, 2016--
Gilead Sciences, Inc. (Nasdaq:GILD) today announced that it has elected
to settle its conversion obligations in connection with any 1.625%
Senior Convertible Notes due 2016 (the “Notes”) submitted for conversion
on or after February 1, 2016 entirely in cash.
In accordance with the foregoing, Gilead notified Wells Fargo Bank,
National Association, the Trustee for the Notes, that it had designated
a “Cash Percentage” (as defined in the indenture governing the Notes
(the “Indenture”)) of 100% to apply to the “Daily Share Amount” for
every “Trading Day” during the relevant “Conversion Reference Period”
(each as defined in the Indenture) applicable to the Notes.
Gilead Sciences is a biopharmaceutical company that discovers, develops
and commercializes innovative therapeutics in areas of unmet medical
need. The company’s mission is to advance the care of patients suffering
from life-threatening diseases. Gilead has operations in more than 30
countries worldwide, with headquarters in Foster City, California.
For more information on Gilead Sciences, please visit the company’s
website at www.gilead.com,
follow Gilead on Twitter (@GileadSciences) or call Gilead Public Affairs
at 1-800-GILEAD-5 or 1-650-574-3000.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160304005832/en/
Source: Gilead Sciences, Inc.
Gilead Sciences, Inc.
Patrick O’Brien, 650-522-1936