Dec 14 2009
Covidien (NYSE:COV), a leading global provider of healthcare products, today announced that the tender offer for all of the Aspect Medical Systems, Inc. (“Aspect”) outstanding 2.50% Convertible Senior Notes Due 2014 (the “Notes”) expired at 12:00 midnight ET, at the end of December 11, 2009, and was not extended. Aspect became a wholly owned subsidiary of Covidien on November 6, 2009. Aspect has accepted for payment and will purchase all Notes tendered in the tender offer.
According to U.S. Bank National Association, the depository for the bond tender offer, $57.95 million in aggregate principal amount of the Notes (or 100%) were validly tendered and not validly withdrawn. The holders who tendered their Notes will receive $1,012.43 per $1,000 principal amount of the Notes, which includes accrued interest on the tendered Notes up to, but not including the date of payment of the Notes. As a result of all outstanding Notes being tendered in the offer, the amendments to the indenture described in the offer to purchase for the tender offer are unnecessary and will not be implemented.
The aggregate cost to purchase the Notes tendered in the tender offer, including accrued and unpaid interest, will be approximately $58.7 million.
Source: Covidien
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