Paul Hastings Represents Cowen and Company in Savient Pharmaceuticals Financing Transaction

May 09, 2012
New York, NY (May 9, 2012) - Paul Hastings LLP, a leading global law firm, announced today that the firm represented Cowen and Company in connection with the exchange and purchase of certain notes of Savient Pharmaceuticals, Inc., a specialty biopharmaceutical company, by certain existing note holders of Savient. Such holders exchanged their existing 4.75% convertible senior notes due 2018, having an aggregate principal amount of approximately $108 million, for units of Savient comprised of senior secured discount notes due 2019 having an equivalent aggregate principal amount at maturity to the notes exchanged and warrants to purchase an aggregate of approximately 4 million shares of Savients common stock. In addition, such holders agreed to purchase additional units in an aggregate principal amount at maturity of approximately $63 million.

Leveraged Finance partner Rich Farley led the Paul Hastings team, which also included Joe Fastiggi and Farah Tariq.

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