Forest LabS Prices Offering Of $1.8 Bln In Senior Notes - Quick Facts

(RTTNews) - Forest Laboratories, Inc. (FRX0 announced the pricing of a private placement offering of $1.8 billion aggregate principal amount of senior unsecured notes, comprised of $1.05 billion aggregate principal amount of its 4.375% senior unsecured notes due 2019 and $750 million aggregate principal amount of its 4.875% senior unsecured notes due 2021.

The company said the 2019 senior notes will bear an interest rate of 4.375% per annum and will be issued at a price of 100.000% of the aggregate principal amount and the 2021 senior notes will bear an interest rate of 4.875% per annum and will be issued at a price of 100.000% of the aggregate principal amount.

Forest Laboratories said it intends to use the net proceeds from the offering of the notes, together with cash on hand, to fund its previously announced proposed acquisition of Aptalis.

Forest Laboratories expects that the sale of the notes will be completed, subject to customary closing conditions, on January 31, 2014.