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Jazz Pharmaceuticals Launches $850 Million Senior Notes Offering, $150 Million Share Buyback
2024-09-03 20:03
08:03 AM EDT, 09/03/2024 (MT Newswires) -- Jazz Pharmaceuticals (JAZZ) said Tuesday that its subsidiary Jazz Investments I plans to offer $850 million of exchangeable senior notes due 2030 in a private offering.
The company said initial purchasers of the notes will be granted a 13-day option to buy up to an additional $150 million of notes.
The company also said it expects to repurchase up to $150 million of its ordinary shares from purchasers of the notes in private transactions along with the pricing of the notes offering.
The company said it plans to use a portion of the net proceeds from the notes offering to prepay up to about $350 million of the term loans outstanding under its credit agreement. The remainder will be used for general corporate purposes, Jazz added.
