Viatris Announces Cash Tender Offers for Senior Notes

By Tamara Parker • Wednesday, September 04 08:00 • Permanent Link

Viatris Inc. (NASDAQ: VTRS) has announced cash tender offers for certain outstanding notes, including the 1.650% senior notes due 2025 issued by Viatris, the 2.125% senior notes due 2025 issued by Mylan, and the 3.950% senior notes due 2026 issued by Utah Acquisition.

The tender offers will expire at 5:00 p.m., New York City time, on September 10, 2024, unless extended or earlier terminated. Additionally, the maximum tender offer will expire at 5:00 p.m., New York City time, on October 2, 2024, unless extended or earlier terminated, with the early tender date set for September 17, 2024.

The total consideration payable for each $1,000 or €1,000 principal amount, as applicable, of the any and all notes validly tendered and accepted for payment pursuant to the any and all tender offers will be determined based on the applicable fixed spread for each series of notes and the applicable yield based on the bid-side price of the U.S. Treasury reference security or the Bund reference security, as quoted on the applicable Bloomberg reference page.

The settlement date for the any and all tender offers is expected to occur promptly after the guaranteed delivery expiration date, while the settlement date for the maximum tender offer notes is expected to occur promptly after the early tender date and the maximum tender expiration date.

Holders of the securities are urged to read the offer to purchase carefully before making any decision with respect to the tender offers.

The offerors have retained Barclays Capital Inc., Citigroup Global Markets Inc., and J.P. Morgan Securities LLC as lead dealer managers for the tender offers.

This announcement is for information purposes only and does not constitute an offer to sell, a solicitation to buy, or an offer to purchase or sell any securities. The tender offers are being made only pursuant to the offer to purchase and only in such jurisdictions as are permitted under applicable law. Today the company's shares have moved -1.6% to a price of $11.89. For the full picture, make sure to review Viatris's 8-K report.

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