Pharmaceuticals

Watson Announces Offering of Senior Unsecured Notes

Published in Law and Health Weekly, September 5th, 2009

Watson Pharmaceuticals, Inc. (NYSE:WPI), a specialty pharmaceutical company, announced that it is offering up to $850 million aggregate principal amount of five and ten year senior unsecured notes in a registered public offering.

Watson intends to use the net proceeds from the offering to fund a portion of the cash consideration for Watson's previously announced acquisition of the privately-held Arrow Group, to redeem the $575 million aggregate principal amount outstanding of its contingent senior debentures due 2023 and to repay $100 million of term loan borrowings under its existing credit agreement. The senior unsecured offering is not conditioned on the completion...

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Source: Law and Health Weekly (2009-09-05)

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