Alere Inc Announces Completion of $450 Million Senior Notes Offering


Tuesday, 11 Dec 2012 06:50pm EST 

Alere Inc announced that it has completed its previously announced offering of $450 million aggregate principal amount of senior notes. The notes will bear interest at a rate of 7.250% per year, payable semi-annually on June 15 and December 15 of each year, beginning on June 15, 2013, and will mature on July 1, 2018 unless earlier redeemed. The Company will use the net proceeds from the offering to finance its announced cash tender offer to repurchase any and all of its outstanding $250.0 million aggregate principal amount of 7.875% senior notes due 2016, to repay all outstanding revolving borrowings 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. 

Company Quote

323.72
-2.03 -0.62%
9 Jul 2014