Apotex Launches $1.25 Billion Senior Unsecured Notes Offering
Apotex Health Corp., a Canadian-based global health company, has announced its inaugural senior unsecured notes offering. The company has priced a private placement of $1,250 million aggregate principal amount of senior unsecured notes in three series.
The Notes consist of $400 million aggregate principal amount of 4.390% senior unsecured notes due October 5, 2029, $550 million aggregate principal amount of 4.769% senior unsecured notes due October 5, 2031, and $300 million aggregate principal amount of 5.133% senior unsecured notes due October 5, 2033.
The Notes are being offered on an agency basis by a syndicate of agents led by RBC Capital Markets, BMO Capital Markets, Scotiabank, and TD Securities as joint bookrunners, and ATB Cormark Capital Markets, CIBC Capital Markets, and National Bank of Canada Capital Markets as co-managers.
According to Brian McClelland, Chief Financial Officer of Apotex, 'This inaugural bond offering represents an important milestone for Apotex and supports our objective of building a long-term presence in the Canadian debt capital markets.' The proceeds will be used to refinance existing debt and strengthen the company's capital structure.
The Notes are direct, senior, unsecured obligations of the Company, ranking equally with all other senior unsecured and unsubordinated indebtedness of the Company. Apotex will use the net proceeds of the Offering to refinance existing indebtedness and for other general corporate purposes.