The 1.75% convertible senior notes are due 2028

Davis Polk advised the representatives of the several initial purchasers in connection with a Rule 144A offering by Ionis Pharmaceuticals, Inc. of an aggregate principal amount of $575 million of its 1.75% convertible senior notes due 2028, which included $75 million aggregate principal amount of notes sold pursuant to the exercise in full of the initial purchasers’ option.

For more than 30 years, Ionis has been a leader in RNA-targeted therapy, pioneering new markets and changing standards of care.

The Davis Polk corporate team included partner Alan F. Denenberg, counsel Jason Bassetti and associates Jacquiley Wong and Savannah J. Dowling. The equity derivatives team included partner Mark M. Mendez. The intellectual property team included partner David R. Bauer and associate Jordan Khorshad. The tax team included partner Michael Farber and associates William Liang and Albert Park. Members of the Davis Polk team are based in the Northern California and New York offices.