Elan Corporation PLC Announces Pricing of US$615 Million Aggregate Principal Amount Of Senior Notes

DUBLIN, Ireland--(BUSINESS WIRE)--Elan Corporation, plc (“Elan”) today announced the pricing of the offering of US$615 million aggregate principal amount of Senior Notes by its wholly-owned subsidiaries, Elan Finance public limited company and Elan Finance Corp. Elan increased the size of the offering from the US$500 million aggregate principal amount previously announced. The Senior Notes consist of US$465 million aggregate principal amount of 8.875% Senior Fixed Rate Notes due 2013 and US$150 million aggregate principal amount of Senior Floating Rate Notes due 2013. The Floating Rate Notes will bear interest at a rate, adjusted quarterly, equal to three-month LIBOR plus 4.125%. The Senior Notes will be guaranteed by Elan and certain of Elan’s subsidiaries. The Senior Notes are being offered to investors at a price of 100% of principal amount. The offering is expected to close on November 22, 2006, subject to customary closing conditions.

MORE ON THIS TOPIC