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Mylan Inc Announces Pricing Of $2.0 Billion Of Senior Notes

Tuesday, 19 Nov 2013 04:17pm EST 

Mylan Inc announced the pricing of a registered offering of aggregate principal amount of $2.0 billion in bond issuance comprised of; $500 million aggregate principal amount of 1.35% Senior Notes due 2016, $500 million aggregate principal amount of 2.55% Senior Notes due 2019, $500 million aggregate principal amount of 4.20% Senior Notes due 2023 and $500 million aggregate principal amount of 5.40% Senior Notes due 2043. Mylan intends to use the net proceeds from the offering to fund the previously announced acquisition of the Agila Specialties business of Strides Arcolab (the "Agila Acquisition") and for general corporate purposes, including, but not limited to, repayment of short-term borrowings which may include repayment of borrowings under its revolving credit facility and accounts receivable securitization facility, and funding a previously announced buyback of our common stock of up to $500 million. Subject to customary closing conditions, the sale of the notes is expected to close on or about Nov. 29, 2013. Mylan continues to anticipate that it will complete the Agila Acquisition in the fourth quarter of 2013. 

Company Quote

-0.22 -0.46%
27 Aug 2014