Gilead raises $2.2B in note deal

Gilead Sciences Inc. (NASDAQ:GILD) raised $2.2 billion in convertible senior notes to institutional investors. The offering comprises $1.1 billion each in 1% notes due 2014 and 1.625% notes due 2016. The 2014 and 2016 notes initially convert at $45.08 and $45.41, which are 35% and 36% premiums, respectively, to Gilead's close of $33.43 on Friday, the last trading day before the deal was announced. ...