Mylan completes private offering of more than $1 billion in senior notes
By APThursday, May 20, 2010
Mylan completes private offering of senior notes
PITTSBURGH — Generic drug maker Mylan Inc. has completed a private placement of more than $1 billion in senior notes.
That includes $550 million in 7.625 percent notes due in 2017 and $700 million in 7.875 percent senior notes due in 2020. The notes were sold only to qualified institutional buyers in the United States.
Mylan said Wednesday it intends to use $1 billion of the proceeds to prepay a portion of its outstanding term loans.
Mylan shares fell 56 cents, or 2.8 percent, to $19.67 in Thursday afternoon trading.
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