Jaguar Holding, Pharmaceutical Product plan to redeem 9˝% notes, 9 3/8%/10 1/8% PIK notes

By Susanna Moon

Chicago, Aug. 3 – Jaguar Holding Co. II and Pharmaceutical Product Development, LLC plan to redeem their $575 million principal amount of 9˝% senior notes due 2019 and Jaguar Holding Co. I’s $1,125,000,000 principal amount of 9 3/8%/10 1/8% senior pay-in-kind toggle notes due 2017.

Proceeds for the redemptions will come from the issuers’ offering of $1,125,000,000 of senior notes due 2023 in a private offering, along with proceeds from a refinancing of the issuers’ senior secured credit facility and cash on hand, according to a press release.

Proceeds also will be used to make dividends to Holdings’ shareholders and distributions to Holdings’ optionholders.

Jaguar is a Wilmington, N.C.-based global contract research organization providing clinical trial and lab services to pharmaceutical and biotechnology industries.

PPD is a Wilmington, N.C.-based contract research organization providing drug discovery, development, lifecycle management and laboratory services.

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