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Alpharma, Inc.
Pharma company's senior notes due in 2011 sold in private placement
May 14th, 2003
Alpharma, Inc., (ALO) announced that it has entered into an agreement to sell $220,000,000 aggregate principal amount of 8.625% senior notes due 2011 in a private placement. It is anticipated that the sale of the senior notes would close on April 24, 2003, subject to customary closing conditions at par. The proceeds of the offering, after deducting fees and expenses, will be approximately $197 million. These proceeds, together with funds available from other sources, will be used to repay existing senior subordinated notes of the company's wholly owned subsidiary, Alpharma Operating Corporation. Placement fees to the initial purchasers of the senior...
Source: Biotech Week (2003-05-14)
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