Allergan starts tender offer of 0% LYONs due 2020

New York, Nov. 18 - Allergan, Inc. said it is tendering for its outstanding zero-coupon Liquid Yield Option Notes due 2020.

The Irving, Calif. health care company is offering to buy the convertibles at $647.50 per $1,000 principal amount at maturity.

If all the LYONs are repurchased Allergan will spend $425.7 million of cash.

The tender expires at 11.59 p.m. ET on Dec. 16. There is no minimum amount of notes that must be tendered for the offer to be completed.

Banc of America Securities LLC is dealer manager for the tender offer, D.F. King & Co., Inc. is information agent and The Bank of New York is depositary. For more information, call Banc of America Securities at 212 933-2200 or 888 583-8900 ext. 2200.

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