Cincinnati, Ohio-based Kendle International has closed a $200 million offering of convertible senior notes, which would become due in 2012. The notes would be converted into a combination of cash and common stock.

Kendle stated it would use the majority of the proceeds (approximately $146 million) for repayment of debt and general corporate purposes, including “working capital and acquisitions or investments in businesses, products or technologies complementary to its own.”

Kendle also entered into convertible note hedge transactions, intended to reduce any dilution to the company’s shareholders upon future conversion of the notes. The offering is being handled by UBS Investment Bank. Kendle reported revenues of $373.94 million last year.