Less than two weeks after Talecris Biotherapeutics raised $950 million in an IPO, the company announced plans to bring in another $550 million in debt.
The Research Triangle Park company will sell up to $550 million in senior notes and use the proceeds to repay other, more expensive loans. The notes due 2016 will be sold only to big institutional investors such as investment banks and mutual funds.
As Talecris bolsters it balance sheet, officials have said they expect to spend $750 million on expansions over the next five years. They are considering adding new production capacity at the company's massive blood-plasma plant in Clayton, but also are looking at new sites elsewhere.
The company, which employs more than 2,200 in the Triangle, is seeing increasing demand for its medicines made from plasma, including treatments for patients with comprised immune systems.
A Talecris spokeswoman declined to comment on the debt offering, citing securities regulations limiting what companies can say before and after an initial public offering of stock.
Talecris shares, which began trading Oct. 1 at $19 each, fell 28 cents today to $21.07.