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Elan Announces Pricing of $600 Million 2019 Senior Notes

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Elan Corporation (NYSE: ELN) today announced the pricing of the offering of US$600 million aggregate principal amount of 6.250% Senior Notes due 2019 (“Notes”) by its wholly-owned subsidiaries, Elan Finance public limited company and Elan Finance Corp. The Notes will be issued at par. The offering is expected to close on October 1, 2012, subject to customary closing conditions. The Notes will be fully and unconditionally guaranteed by Elan and certain of its subsidiaries. Proceeds from the Notes, together with available cash on hand, will be used 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. This release does not constitute a notice of redemption. Any such notice, if issued, shall be issued pursuant to the terms of the indentures governing the Senior Notes due 2016.

The Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and may not be offered or sold in the United States or to U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act and applicable state securities laws.

Posted-In: News Financing


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