Perrigo Co. PLC and its Perrigo Finance Unlimited Co. unit started a cash tender offer for up to an aggregate principal amount of $1.40 billion of certain notes.
The tender offer includes $800 million of 4.000% notes due 2023, $400 million of 5.300% notes due 2043, $500 million of 3.500% notes due March 2021 to be issued by Perrigo and another $500 million of 3.500% notes due December 2021 to be issued by Perrigo Finance, $400 million of 4.900% notes due 2044, $700 million of 4.375% notes due 2026 and $700 million of 3.900% notes due 2024.
The offer will expire June 27, unless extended. Noteholders have to validly tender and not validly withdraw their notes June 13, unless extended, to receive the applicable total consideration in the offering.
Closing of the tender offer is subject to the satisfaction or waiver of certain conditions.
Barclays Capital Inc., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC are the lead dealer managers, with Wells Fargo Securities LLC as the co-dealer manager in the offer.