24th Aug 2018 14:04
LONDON (Alliance News) - Biotechnology company Shire PLC on Friday said its wholly-owned subsidiaries Baxalta and Shire Acquisitions Investments Ireland DAC launched a tender offer to repurchase up to GBP2.25 billion worth of outstanding notes.
Baxalta began a tender offer for USD1.00 billion 2.875% notes due 2020, USD500.0 million 3.6% notes due 2022, USD1.75 billion 4.0% notes due 2025 and USD1.0 billion 5.25% notes due 2045.
Meanwhile, Shire Acquisitions Investments agreed to repurchase USD3.00 billion 3.2% notes due 2026.
The tender offer will expire on September 21, the FTSE 100-listed firm said.
The tender offer is not limited upon a minimum amount of notes of any series, Shire said, but is conditioned upon the satisfaction or waiver of certain conditions, including the closing of, and receipt by Shire of the cash proceeds from the sale of its Oncology business.
Shire shares were trading 1.9% higher on Friday at 4,507.00 pence each.
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