Allergan to sell $800 million 10-year notes

New York, April 5 - Allergan, Inc. said it plans to sell $800 million of senior notes due 2016.

The debt will be sold under Rule 144A and Regulation S.

The notes are being offered alongside a sale of $700 million 20-year convertible senior notes that are coming to market via Morgan Stanley, Bank of America Securities and Citigroup as bookrunners.

Allergan said it will use proceeds from the convertible and straight-bond offerings to redeem its outstanding zero-coupon convertible notes due 2022 and to repurchase $257 million of its common stock. It will also use the proceeds to pay for its acquisition of Inamed Corp. in March this year, including the repayment of an outstanding $825 million from a bridge loan for the acquisition.

Irvine, Calif.-based Allergan is a specialty pharmaceuticals manufacturer with products that treat ophthalmic, neurological, aesthetic and dermatological conditions.

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