Viatris Inc.'s subsidiary, Utah Acquisition Sub Inc. (UAS), announced the pricing terms for a cash tender offer targeting up to $575,003,000 of its outstanding 3.950% Senior Notes due 2026. This initiative is part of the company's ongoing efforts to manage its debt profile and optimize its capital structure.
As of the Early Tender Date on September 17, 2024, the aggregate principal amount of notes validly tendered and not withdrawn reached $1,449,950,000, significantly exceeding the Maximum Tender Cap. Consequently, UAS will accept tendered notes on a pro rata basis, ensuring a fair distribution among participating holders.
The Total Consideration for each $1,000 principal amount of notes accepted for purchase is $995.64, which includes an Early Tender Payment of $30. The Early Settlement Date for these transactions is anticipated to be September 20, 2024, marking a swift execution of the offer.
In related financial maneuvers, Viatris also satisfied and discharged the indenture for its 1.650% Senior Notes due 2025 on September 16, 2024. Additionally, Mylan Inc. issued a notice of redemption for all outstanding 2.125% Senior Notes due 2025, with the redemption expected to be completed by October 16, 2024. These actions collectively underscore Viatris's commitment to streamlining its debt obligations and improving its financial health.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.