Jazz Pharmaceuticals plc (JAZZ) announced the pricing of $850 million aggregate principal amount of 3.125% exchangeable senior notes due 2030 in a private offering by Jazz Investments I Limited, its wholly-owned subsidiary, to qualified institutional buyers. The issuer granted the initial purchasers of the notes an option to purchase up to an additional $150 million aggregate principal amount of notes. The sale of the notes is expected to close on September 6, 2024.
The issuer estimates that the net proceeds from the offering will be approximately $833.7 million. Jazz Pharmaceuticals, together with its consolidated subsidiaries, expects to use a portion of the net proceeds to prepay up to approximately $350 million aggregate principal amount of the term loans outstanding under the credit agreement and the remainder for general corporate purposes.
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