Elan to redeem all $600 million of its 6¼% senior notes on May 2

By Tali David

Minneapolis, April 2 - Elan Corp. plans to redeem all $600 million of the 6¼% senior notes due 2019 of its wholly owned subsidiaries, Elan Finance plc and Elan Finance Corp., according to a press release.

The notes will be redeemed at $1,180.84 per $1,000 principal amount, which represents par plus the applicable premium and accrued interest, on May 2.

Elan is a neuroscience-based biotechnology company based in Dublin.

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