Pharmaceutical company Perrigo Company (Nasdaq:PRGO; TASE:PRGO) is preparing to hold a $600 million debt offering on Nasdaq within days. The company will offer senior notes bearing 2.95% annual interest with a ten-year maturity. The company will use the proceeds for general business purposes.
Perrigo expects the bonds will receive a Baa3 rating from Moody's and a BBB rating from S&P. The interest payments will be made biannually, in mid-May and mid-November.
The offering's primary underwriters are Morgan Stanley (NYSE: MS), Bank of America Inc. (NYSE: BAC), Wells Fargo Inc. (NYSE: ), and JPMorgan Chase & Co. (NYSE: JPM). The secondary underwriters are Fifth Third Securities, HSBC Holding plc (LSE: HSBA; HKSE: 005; NYSE, Paris: HBC), Bank Hapoalim USA Ltd., Royal Bank of Scotland plc (LSE; NYSE: RBS), and PNC Financial Services Inc. (NYSE: PNC).
Published by Globes [online], Israel business news - www.globes-online.com - on May 12, 2013
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