Oscient expands notes offering

Biopharmaceutical company Oscient Pharmaceuticals Corp. today increased its offering of new 3.5 percent convertible senior notes due 2011 by $20 million to $50 million.

There is no minimum amount of new notes the company must sell. Oscient currently expects the notes to be sold in the new money offering will be issued at between 72.5 percent and 77.5 percent of the principal amount.

Piper Jaffray & Co. is serving as dealer manager for the exchange offers, which will expire on April 25, and placement agent for the new money offering. (AP)