Perrigo Closes $1 Billion Senior Notes Offering

By Tamara Parker • Wednesday, September 18 07:57 • Permanent Link

Perrigo Company PLC has just closed a senior notes offering through its finance subsidiary, Perrigo Finance Unlimited Company. The offering included $715 million aggregate principal amount of 6.125% senior notes due 2032 (USD Notes) and €350 million aggregate principal amount of 5.375% senior notes due 2032 (Euro Notes). The total net proceeds of the offering are estimated to be approximately $1,076 million.

Perrigo plans to use the net proceeds to fund the redemption of all of the issuer’s 4.375% senior notes due 2026 and to prepay a portion of the term B loans outstanding under Perrigo’s credit facilities, as well as to pay fees and expenses related to the foregoing.

The joint book-running managers for the USD Notes are BofA Securities, J.P. Morgan, Wells Fargo Securities, Morgan Stanley, and HSBC. Meanwhile, the active joint book-running managers for the Euro Notes are BofA Securities, HSBC, and J.P. Morgan.

Perrigo Company PLC is a leading provider of consumer self-care products and over-the-counter health and wellness solutions, empowering consumers to proactively prevent or treat self-manageable conditions.

For further information, the company can be reached through Bradley Joseph, Vice President of Global Investor Relations & Corporate Communications, and Nicholas Gallagher, Senior Manager of Global Investor Relations & Corporate Communications. Today the company's shares have moved -0.7% to a price of $28.02. For more information, read the company's full 8-K submission here.

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