In separate transactions that closed on the same day despite a volatile market resulting from the COVID-19 pandemic, Foley Hoag advised on senior unsecured notes offerings for Biogen Inc. and Entegris, Inc. that total more than $3.4 billion.
The firm represented Biogen Inc. (Nasdaq: BIIB) in a registered offering of two series of senior unsecured notes for an aggregate principal amount of $3.0 billion. Biogen intends to use the proceeds to redeem $1.5 billion of its outstanding 2.90% Senior Notes due September 15, 2020, to fund (together with cash on hand) repurchases of common stock under its share repurchase plans and for other general corporate purposes. Foley Hoag attorneys Tom Draper, John Hancock, Anne Seymour, Caroline Samp, Matthew Burton, Alyssa Pratt and Mark Jorgensen represented Biogen in the transaction.
Based in Cambridge, MA, Biogen discovers, develops, manufactures and delivers therapies for treating neurological and neurodegenerative diseases worldwide.
Foley Hoag also represented Entegris, Inc. (Nasdaq: ENTG) in a 144A offering of senior unsecured notes in an aggregate principal amount of $400 million. Entegris intends to use the proceeds to repay its revolving loans, a portion of its term loans and for general corporate purposes. Foley Hoag attorneys Tom Draper, John Hancock, Ryan Rourke Reed, Anne Seymour, Caroline Samp, Heekyoung Lee and Sarah Ropiak represented Entegris in the transaction.
Based in Billerica, Massachusetts, Entegris is a world-class supplier of advanced materials and process solutions for the semiconductor and other high-tech industries.