Alere Inc. Announces Pricing of Senior Subordinated Notes Offering
WALTHAM, Mass., May 13, 2013 /PRNewswire/ -- Alere Inc. (NYSE: ALR) (the "Company") announced today that, in connection with its previously announced private placement of $425 million of senior subordinated notes due 2020, it entered into a purchase agreement with the initial purchasers of the notes on May 13, 2013. The notes have a coupon of 6.500% per annum and are being offered at par. The Company expects to complete the offering on or about May 24, 2013 and intends to use the net proceeds from the offering to repurchase any and all of its outstanding $400 million aggregate principal amount of 9.00% Senior Subordinated Notes due 2016 (the "9% Notes"), to redeem any 9% Notes not repurchased pursuant to the tender offer, to pay related tender, consent solicitation or redemption fees, premiums, costs and expenses and accrued interest on the 9% Notes, and to pay costs and expenses related to the offering.
The notes are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States in reliance on Regulation S under the Securities Act. The notes are not being registered under the Securities Act. Unless so registered, the notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding the expected timing of the completion of the offering and the intended use of proceeds. These statements reflect the Company's current views with respect to future events and are based on management's current assumptions and information currently available. Actual results may differ materially due to numerous factors including, without limitation, risks associated with market and economic conditions and the satisfaction of applicable closing conditions. The Company undertakes no obligation to update any forward-looking statements contained herein.
SOURCE Alere Inc.
More by this Source
Alere Inc. Announces Third Quarter 2013 Results
Oct 29, 2013, 07:30 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.