News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Warner Chilcott, PLC (WCRX) Completes Amendment to Existing Senior Secured Credit Facilities; Company Declares Special Cash Dividend of $4.00 Per Share


8/21/2012 9:32:09 AM

DUBLIN, Ireland, Aug. 21, 2012 (GLOBE NEWSWIRE) -- Warner Chilcott plc (Nasdaq:WCRX) today announced that it has completed an amendment to its existing senior secured credit facilities, pursuant to which it has incurred an additional $600 million aggregate principal amount of new term loans. The new term loan facilities are comprised of a $300 million Term Loan B-4/5 bearing interest at LIBOR plus 3.00% with a five-year maturity, and a $300 million Additional Term Loan B-1 bearing interest at LIBOR plus 3.25% with a LIBOR floor of 1.00% and maturing on March 15, 2018. As previously announced, the Company intends to use the proceeds from the new term loans and cash on hand to fund a special cash dividend to its shareholders of $4.00 per share, or approximately $1.0 billion in the aggregate, and to pay related fees and expenses.

Read at GlobeNewswire


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES