Perrigo Company plc recently completed a registered public offering through its 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). These notes are fully guaranteed on a senior unsecured basis by Perrigo and its subsidiaries.
The estimated net proceeds from the offering are around $1,076 million after accounting for underwriting fees and expenses. Perrigo plans to use these funds to redeem all of the Issuer’s 4.375% Senior Notes Due 2026 and prepay a portion of outstanding Term B Loans under its credit facilities, as well as cover associated fees and expenses.
The joint book-running managers for the USD Notes are BofA Securities, J.P. Morgan, Wells Fargo Securities, Morgan Stanley, and HSBC, while BofA Securities, HSBC, and J.P. Morgan are handling the Euro Notes. The offering is being conducted in accordance with an effective shelf registration statement filed with the Securities and Exchange Commission.
Perrigo Company plc is a prominent provider of Consumer Self-Care Products and over-the-counter health and wellness solutions. The company focuses on empowering consumers to proactively manage their well-being. For further information, interested parties can contact Bradley Joseph, Vice President of Global Investor Relations & Corporate Communications, or Nicholas Gallagher, Senior Manager of Global Investor Relations & Corporate Communications.
It’s important to note that this press release does not constitute an offer to sell securities. Additionally, certain statements in this release are considered forward-looking statements, which are subject to various risks and uncertainties. These risks include those related to economic conditions, regulatory approvals, competition, and potential litigation, among others. Readers should refer to Perrigo’s filings with the Securities and Exchange Commission for a comprehensive discussion of these risks.
In conclusion, Perrigo Company plc has successfully completed a significant offering of Senior Notes through its finance subsidiary. The proceeds from this offering will enable the company to address existing debts and further its strategic initiatives in the consumer healthcare sector. Investors and stakeholders are advised to exercise caution and conduct thorough due diligence before making any investment decisions based on this announcement.
