PITTSBURGH, July 29 /PRNewswire-FirstCall/ -- Mylan Inc. (Nasdaq: MYL) today announced that it intends to privately place $300 million in aggregate principal amount of senior notes through a reopening of its Senior Notes due 2020, subject to market and other conditions. The notes are being offered as additional notes under an existing indenture under which Mylan issued $700 million aggregate principal amount of Senior Notes due 2020 on May 19, 2010. The notes to be issued in this offering and the previously issued Senior Notes due 2020 will be treated as a single class of notes under the indenture.
Mylan intends to use the net proceeds of this offering to finance a portion of the $550 million purchase price for the previously-announced acquisition of all of the equity of Bioniche Pharma Holdings Limited, a privately held, global injectable pharmaceutical company. The closing of this offering will not be conditioned on consummation of the Bioniche Pharma acquisition. If the Bioniche Pharma acquisition is not consummated, Mylan intends to use the net proceeds from the offering for general corporate purposes, which may include repayment of indebtedness or business development opportunities.
The notes will be sold only to qualified institutional buyers in the U.S. in reliance on Rule 144A under the Securities Act of 1933, and outside the U.S. to non-U.S. persons in reliance on Regulation S under the Securities Act. The proposed issuance of the notes will not be registered under the Securities Act and may not be offered or sold in the U.S. absent registration or an applicable exemption from registration
|SOURCE Mylan Inc.|
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