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Elan Corporation PLC (ELN) Announces Redemption of Its Senior Notes Due 2019


4/3/2013 11:03:50 AM

DUBLIN--(BUSINESS WIRE)--Elan Corporation, plc (NYSE:ELN) (the Company) announced today that it has issued an irrevocable Notice of Redemption to redeem all of the $600 million in aggregate principal amount of outstanding 6.25% Senior Notes due 2019 (the “Notes”) of its wholly owned subsidiaries, Elan Finance public limited company and Elan Finance Corp. The redemption is expected to occur on May 2, 2013. The Notice of Redemption specifies that the redemption price will be equal to $1,180.84 per $1,000 principal amount of the Notes, which represents 100% of the principal amount of the Notes, plus the “Applicable Premium” (as defined in the Indenture governing the Notes), plus accrued and unpaid interest of $2.95 per $1,000 principal amount of the Notes, which represents accrued but unpaid interest on the Notes from April 15, 2013, the most recent interest payment date of the Notes prior to the redemption date, to May 2, 2013.

Read at BioSpace.com


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