Warner Chilcott reduces loan repayment amount with reduced IPO price

By Sara Rosenberg

New York, Sept. 21 - Warner Chilcott Ltd. now plans on repaying $405 million of its senior secured credit facility debt, as opposed to $470 million, since its initial public offering of class A common shares priced below prior expectations, according to an FWP filed with the Securities and Exchange Commission Thursday.

The offering priced at $15.00 per share, as opposed to the previous price range of $17.00 to $19.00 per share. As a result, estimated net proceeds from the offering will be $193.1 million less than the estimated net proceeds in the company's preliminary prospectus.

Warner Chilcott is a Rockaway, N.J.-based women's health care and dermatology products company.

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