Nektar Therapeutics raises $125 million in debt deal

Nektar Therapeutics raised $125 million by selling debt due in 2017. It will spend the money paying off other debt due this year.

San Francisco-based Nektar (NASDAQ: NKTR) sold $125 million in senior secured notes in a private placement. The sale should close July 11. Nektar will spend the money paying off convertible subordinated notes due Sept. 28, 2012.