Actavis gets needed consents to guarantee Forest Laboratories notes

By Susanna Moon

Chicago, June 12 – Actavis plc successfully completed a consent solicitation for three series of notes issued by Forest Laboratories, Inc., according to a company news release.

The three series are Forest Laboratories’ $1.05 billion 4 3/8% senior notes due 2019, $750 million 4 7/8% senior notes due 2021 and $1.2 billion 5% senior notes due 2021.

As previously announced, Actavis offered to guarantee the notes issued by Forest Laboratories in exchange for eliminating registration rights obligations for those notes.

The company plans to enter into a waiver and amendment to the registration rights agreements and supplemental indentures for the notes, which will become operative when Actavis guarantees the Forest Laboratories notes.

The consent solicitations ended at 5 p.m. ET on June 12, extended from 5 p.m. ET on June 6. The solicitations began on May 22.

As of June 9, holders of a majority of each series of notes had delivered consents under the solicitations, as previously noted.

D.F. King & Co., Inc. (212 269-5550, 800 967-4617 or frx@dfking.com) is the information and tabulation agent.

Actavis is a pharmaceutical company with headquarters in Dublin. Forest Laboratories is a New York-based specialty pharmaceutical company.

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