Alere calls 6 3/8% notes due 2023 on closing of acquisition by Abbott

New York, Aug. 28 – Alere Inc. will redeem its $425 million of 6 3/8% senior subordinated notes due 2023, according to a notice from the issuer.

The redemption is conditional on the closing of the acquisition of Alere by Abbott Laboratories.

Subject to the condition being met, the redemption date will be no earlier than Sept. 24 and no later than Oct. 24.

Holders will receive a price calculated using a make-whole formula and a discount rate of Treasuries plus 50 basis points. Alere will also pay accrued interest up to but excluding the redemption date.

Abbott is an Abbott Park, Ill., health care company with offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals.

Alere is a provider of rapid diagnostic tests based in Waltham, Mass.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.