Vaxcyte launches $500 million convertible senior notes offering

Vaxcyte launched an underwritten public offering of USD 500 million of convertible senior notes due 2032. Notes are set to mature on Oct. 15, 2032, with the interest rate and initial conversion rate to be fixed at pricing. Underwriters have a 30-day option to buy up to an additional USD 75 million of notes to cover over-allotments.