DUBLIN, Ireland--(BUSINESS WIRE)--Elan Corporation, plc (“Elan”) today announced that its wholly owned subsidiaries, Elan Finance public limited company and Elan Finance Corp., have completed the previously announced offering of US$615 million aggregate principal amount of Senior Notes. The Senior Notes consist of US$465 million aggregate principal amount of 8.875% Senior Fixed Rate Notes due 2013 and US$150 million aggregate principal amount of Senior Floating Rate Notes due 2013. The Senior Floating Rate Notes bear interest at a rate, adjusted quarterly, equal to three-month LIBOR plus 4.125%. The Senior Notes are guaranteed by Elan and certain of Elan’s subsidiaries. The Senior Notes were sold to investors at a price of 100% of principal amount. The Senior Notes were offered in the United States, only 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.
