Inverness Medical sells $400m in notes
NEW YORK - Inverness Medical Innovations Inc. sold $400 million of senior subordinated notes due in 2016, according to Bloomberg.
The 9 percent debt priced to yield 679 basis points more than similar-maturity Treasuries, Bloomberg data show. The Waltham, Mass., company earlier marketed $200 million of notes.
The notes are rated B3, six levels below investment quality, by Moody's Investors Service and an equivalent B- by Standard & Poor's, Bloomberg data show. Bank of America Corp., Goldman Sachs Group Inc., and UBS AG underwrote the offering. 