Illumina, Inc.(NASDAQ:ILMN) is up nearly 4% Thursday afternoon after the genetics and genotyping firm said late Wednesday it will sell $900 million aggregate principal amount of convertible senior notes. 

Of the total offering, Illumina proposes to offer $450 million aggregate principal amount of convertible senior notes due 2019 and $450 million aggregate principal amount of convertible senior notes due 2021. Illumina also intends to grant the initial purchasers a 30-day option to purchase up to an additional $67.5 million in aggregate principal amount of convertible senior notes due 2019 and an additional $67.5 million in aggregate principal amount of convertible senior notes due 2021, for a total potential offering size of $1.035 billion. 

The company will use proceeds to finance the repurchase or repayment of a portion of Illumina’s 0.25% Convertible Senior Notes due 2016 and for general corporate purposes. 

ILMN moves in a 52-week range of $66.11 to $183.30.