Cubist seeking $250M note deal

Cubist Pharmaceuticals Inc. (NASDAQ:CBST) proposed late Monday to sell up to $250 million of senior convertible notes due 2017 in an offering underwritten by Goldman Sachs and Morgan Stanley. Cubist plans to use part of proceeds to repurchase a portion of its 2.25% convertible subordinated notes due June 15, 2013. Further details were not disclosed. Cubist was up $0.02 to $25.25 on Monday. ...