Rottapharm begins change-of-control offer for €400 million 6 1/8% notes

By Susanna Moon

Chicago, Nov. 18 – Rottapharm Ltd. said it began a change-of-control offer for its €400 million principal amount of 6 1/8% senior notes due 2019 guaranteed by Rottapharm SpA.

The company is offering to purchase the notes at 101 through Dec. 4.

The notes are putable at 101 as a result of a change of control that occurred when 100% of the corporate capital of Rottapharm SpA was sold to Meda Pharma SpA and Meda AB, according to a company press release.

The company also will pay accrued interest through the change-of-control payment date of Dec. 9.

The minimum tender amount is €100,000, with integrals of €1,000 after that.

Rottapharm is a Monza, Italy-based pharmaceutical company.

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