By Mary-Katherine Stinson
Lexington, Ky., July 14 Dechra Pharmaceuticals plc settled a private placement of 50 million seven-year senior notes and 100 million ten-year senior notes, according to a notice.
This debt has a weighted average coupon of 3.8%.
The notes priced on July 1. The agreement was signed July 14 and the notes will be issued on July 14 subject to customary closing conditions.
Proceeds will be used to repay the companys revolving credit facility.
Dechra is a veterinary pharmaceuticals and related products business based in Northwich, U.K.
| Issuer: | Dechra Pharmaceuticals plc
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| Issue: | Senior notes
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| Amount: | 50 million, 100 million
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| Coupon: | 3.8% (weighted average)
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| Pricing date: | July 1
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| Settlement date: | July 14
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| Distribution: | Private placement
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| First tranche
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| Amount: | 50 million
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| Tenor: | Seven years
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| Second tranche
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| Amount: | 100 million
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| Tenor: | 10 years
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