Alere Inc Announces Pricing of Senior Notes Offering
Alere Inc announced that, in connection with its previously announced private placement of senior notes due 2018, it entered into a purchase agreement with the initial purchasers of the notes on November 28, 2012. The notes have a coupon of 7.250% per annum and are being offered at par. The Company expects to complete the offering on or about December 11, 2012 and intends to use the net proceeds from the offering to repurchase any and all of its outstanding $250.0 million aggregate principal amount of 7.875% Senior Notes due 2016, to repay outstanding revolving borrowings in the aggregate principal amount of approximately $97.5 million under its credit agreement and for working capital and other general corporate purposes, including the financing of potential acquisitions or investments, stock repurchases and capital expenditures. The Company may also use a portion of the net proceeds to pay all or a portion of any post-closing payment, earn-out payment or other form of deferred or contingent consideration for previously completed acquisitions.
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