Charles River Laboratories to redeem 5½% notes due 2026

By Taylor Fox

New York, March 8 – Charles River Laboratories International, Inc. plans to redeem its 5½% senior notes due 2026, according to a news release.

The redemption will be funded using proceeds from an announced offering of $1 billion of senior notes due 2029 and 2031.

Proceeds will also be used, along with borrowings under its senior credit facilities, to fund a portion of the purchase price for its proposed acquisition of Cognate BioServices, Inc. and to pay related fees and expenses.

Wilmington, Mass.-based Charles River Laboratories provides research and development services to pharmaceutical and biotechnology companies, government agencies and academic institutions.

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