Elan Files $600M Notes Offering, $850M Tender Offer

Law360, New York (September 29, 2009, 2:42 PM EDT) -- In a U.S. Securities and Exchange Commission filing Tuesday, Elan Corp. PLC announced a $600 million senior notes offering, an $850 million cash tender offer and the receipt of an SEC subpoena related to two of the company's drugs.

Elan subsidiaries Elan Finance PLC and Elan Finance Corp. will offer $600 million in senior fixed rate notes due in 2016, according to the drugmaker.

Only qualified institutional buyers will be eligible for the offer, and proceeds from the sale will be used to refinance existing debt...
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