Sep 24 2010
Warner Chilcott plc (Nasdaq: WCRX) today announced that its subsidiaries, Warner Chilcott Company, LLC and Warner Chilcott Finance LLC (together, the "Issuers"), plan to issue an aggregate principal amount of $500 million of 7-3/4% senior notes due 2018 (the "Notes") in a private placement. The notes are additional notes constituting a part of the same series as the $750 million aggregate principal amount of 7-3/4% senior notes due 2018 issued on August 20, 2010.
The Issuers' obligations under the Notes will be guaranteed by Warner Chilcott plc and by its subsidiaries that guarantee obligations under Warner Chilcott's senior secured credit facilities, subject to certain exceptions.
Warner Chilcott intends to use the net proceeds from the offering to finance its $400 million upfront payment in connection with its pending acquisition of the U.S. rights to Enablex® from Novartis and for general corporate purposes.
The Notes have not been registered under the Securities Act of 1933, as amended. The Notes may not be offered or sold within the United States or to U.S. persons, except to "qualified institutional buyers" in reliance on the exemption from registration provided by Rule 144A and to certain persons in offshore transactions in reliance on Regulation S.