Elan says $799.7 million LYONs put back to company

New York, Dec. 16 - Elan Corp. plc said holders of $799.7 million principal amount at maturity of its Liquid Yield Option Notes due 2018 exercised the option to put the securities back to the company, leaving $1.6 million principal amount at maturity outstanding.

The securities were putable up to 5 p.m. ET Dec. 15 at a price of $616.57 per $1,000 principal amount at maturity.

In total the Dublin, Ireland, pharmaceutical company paid $493.1 million in cash to repurchase the convertibles.

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