By Devika Patel
Knoxville, Tenn., Dec. 18 – Dechra Pharmaceuticals plc said it settled a private placement of senior notes in two multicurrency parts.
The €50 million note is due in seven years and the $100 million note is due in 10 years. This debt has a weighted average coupon of 2.8%.
Proceeds will be used to repay the company’s term loan facility.
Dechra is a veterinary pharmaceuticals and related products business based in Northwich, U.K.
Issuer: | Dechra Pharmaceuticals plc
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Issue: | Senior notes
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Amount: | €50 million, $100 million
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Coupon: | 2.8% (weighted average)
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Pricing date: | Nov. 19
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Settlement date: | Dec. 18
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Distribution: | Private placement
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First tranche
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Amount: | €50 million
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Maturity: | Seven years
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Second tranche
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Amount: | $100 million
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Maturity: | 10 years
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