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Elan Corporation PLC (ELN) Announces Intent to Offer $500 Million in Aggregate Principal Amount of Senior Notes Due 2019
9/25/2012 9:42:48 AM
DUBLIN--(BUSINESS WIRE)--Elan Corporation, plc (“Elan”) (NYSE: ELN) today announced that its wholly-owned subsidiaries, Elan Finance public limited company (“Elan Finance”) and Elan Finance Corp. (“Elan Corp.” and together with Elan Finance, the “Issuers”), intend to offer, subject to market conditions, US$500 million in aggregate principal amount of Senior Notes due 2019 (the “Notes”). The Notes will be offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes will be fully and unconditionally guaranteed by Elan and certain of its subsidiaries. The net proceeds of the offering will be used, together with available cash, to pay the applicable consideration, accrued and unpaid interest and related fees and expenses in connection with the Issuers’ previously-announced tender offer (the “Tender Offer”) to purchase any and all of their outstanding 8.75% Senior Notes due 2016 issued on October 2, 2009 and 8.75% Senior Notes due 2016 issued on August 17, 2010. The Issuers intend to redeem any 8.75% Senior Notes that remain outstanding following the Tender Offer in accordance with their terms.
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