Mylan pricing four-tranche offering of senior notes

By Aleesia Forni

Virginia Beach, Nov. 19 - Mylan Inc. is planning to price notes (Baa3/BBB-/) in four tranches, according to a 424B5 filed with the Securities and Exchange Commission.

BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Goldman Sachs & Co. and Morgan Stanley & Co. LLC are the bookrunners.

The company plans to use proceeds from the offering to fund its acquisition of the Agila Specialties business from Strides Arcolab Ltd.

Proceeds will also be used for general corporate purposes, including the repayment of short-term borrowings and funding the buyback of the company's common stock of up to $500 million.

Mylan was last in the U.S. bond market with a $1.15 billion sale of three- and five-year notes on June 18.

The $500 million tranche of 1.8% three-year notes sold at 99.925, while the $650 million of 2.6% five-year notes priced at 99.791.

The generic and specialty pharmaceutical company is based in Canonsburg, Pa.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.