Mylan Prices $2 Bln Of Senior Notes

(RTTNews) - Mylan Inc. (MYL) said Tuesday that it has priced a registered offering of aggregate principal amount of $2.0 billion in bond issuance comprised of $500 million aggregate principal amount of 1.35% Senior Notes due 2016, $500 million aggregate principal amount of 2.55% Senior Notes due 2019, $500 million aggregate principal amount of 4.20% Senior Notes due 2023; and $500 million aggregate principal amount of 5.40% Senior Notes due 2043.

The sale of the notes is expected to close on or about November 29.

The generic drugmaker plans to use the net proceeds from the offering to fund the previously announced acquisition of the Agila Specialties business of Strides Arcolab and for general corporate purposes, including, but not limited to, repayment of short-term borrowings which may include repayment of borrowings under its revolving credit facility and accounts receivable securitization facility, and funding a previously announced buyback of the company's common stock of up to $500 million.

Mylan continues to anticipate that it will complete the Agila acquisition in the fourth quarter of 2013.