June 17, 2020 / 5:07 PM / 2 months ago

BRIEF-GSK Proposes Unregistered Offering Of Senior Notes Exchangeable Into Theravance Biopharma Shares

June 17 (Reuters) - GlaxoSmithKline PLC:

* ANNOUNCES PROPOSED UNREGISTERED OFFERING OF SENIOR NOTES EXCHANGEABLE INTO THERAVANCE BIOPHARMA ORDINARY SHARES

* EXPECTS TO USE NET PROCEEDS OF OFFERING FOR GENERAL CORPORATE PURPOSES

* THERAVANCE BIOPHARMA WILL NOT RECEIVE ANY PROCEEDS FROM OFFERING.

* NOTES WILL BE EXCHANGEABLE INTO SUBSTANTIALLY ALL OF 9.6 MILLION ORDINARY SHARES OF THERAVANCE CURRENTLY HELD BY GSK AND ITS AFFILIATES Further company coverage:

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