Mar 27 2010
Chattem, Inc. (“Chattem” or the “Company”), a wholly-owned subsidiary of
the sanofi-aventis Group, today announced the final results of its
tender offer to repurchase (the “Offer to Repurchase”) any and all of
its outstanding 2.00% convertible senior notes due 2013 (the “2.00%
Notes”) and its outstanding 1.625% convertible senior notes due 2014
(the “1.625% Notes” and collectively, the “Notes”). The Offer to
Repurchase expired on March 25, 2010, at 5:00 p.m., New York City time
(the “Expiration Date”).
Prior to the Expiration Date, the Notes were also convertible into, (i)
with respect to the 1.625% Notes, $1,375.68 in cash per $1,000 principal
amount of 1.625% Notes converted or (ii) with respect to the 2.00%
Notes, $1,664.47 in cash per $1,000 principal amount of 2.00% Notes
converted, according to the terms of the applicable indenture. The
trustee and conversion agent for the Notes, U.S. Bank National
Association, has advised the Company that, prior to the Expiration Date,
holders of 100% of the outstanding 1.625% Notes and approximately 99.8%
of the outstanding 2.00% Notes converted their notes as described above.
The trustee has advised the Company that none of the 2.00% Notes
remaining following conversion were validly tendered pursuant to the
Offer to Repurchase and, therefore, $200,000 aggregate principal amount
outstanding of the 2.00% Notes remain outstanding.
Source Chattem, Inc.