Concordia International (CXRX) Prices Aggregate $350M Senior Notes Offering
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Concordia International Corp. (Nasdaq: CXRX) announced the pricing of its previously disclosed offering (the "Offering") of 5 ½ year Senior Secured First Lien Notes (the "Notes").
The Senior Notes will bear an interest rate of 9.00 per cent per annum and will be issued at 100.00 per cent of their face value. The principal amount of the Notes is US$350 million.
The Offering is expected to close on or about October 13, 2016, subject to satisfaction of customary closing conditions
Concordia intends to use the net proceeds from the Offering for general corporate purposes, including funding of pipeline products and funding small regional product acquisitions
The Notes are being offered and sold in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons, including persons resident in Canada, in accordance with Regulation S under the Securities Act and other applicable securities laws.
The Notes will not be registered under the Securities Act or the securities laws of any state or any other jurisdiction and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws and foreign securities laws. Any offer or sale of the Notes in Canada will be made on a private placement basis in a manner that is exempt from the prospectus requirements of applicable Canadian securities laws.
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