Elan intends to sell new senior notes to fund tender offers

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, Sept. 24 - Elan Corp. plans to offer senior notes to fund tender offers for its $472.1 million of 8¾% senior notes due 2016 and $152.4 million of 8¾% senior notes due 2016, according to a market source.

Morgan Stanley & Co. LLC is the dealer manager.

The offer expires Oct. 22.

Elan is a Dublin-based biotechnology company.

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