Loan & DebtJun 18, 2026, 04:17 PM
Viatris Issues 650M Senior Notes Due 2033 to Repay Debt
AI Summary
Viatris Inc. announced the completion of a public offering of 650 million aggregate principal amount of its 4.250% Senior Notes due 2033. The company intends to use the net proceeds primarily to repay the entire $1.675 billion outstanding principal amount of its 3.950% Senior Notes due 2026. Any remaining funds will be used to replenish cash for general corporate purposes.
Key Highlights
- Viatris completed a public offering of 650,000,000 aggregate principal amount of 4.250% Senior Notes due 2033.
- The Notes are senior unsecured obligations of Viatris, guaranteed by Mylan Inc., Mylan II B.V., and Utah Acquisition Sub Inc.
- Proceeds will fund the repayment of $1.675 billion of 3.950% Senior Notes due 2026 issued by Utah Acquisition Sub Inc.
- Remaining proceeds will replenish cash used for the 2026 Senior Notes repayment, for general corporate purposes.
- The Notes accrue interest at 4.250% per annum, payable annually from June 17, 2027, maturing on June 17, 2033.
- Viatris may redeem Notes prior to April 17, 2033, at a price based on the greater of 100% principal or present value of remaining payments.
- On or after April 17, 2033, Notes can be redeemed at 100% of principal amount plus accrued interest.
- A change of control event requires Viatris to offer to purchase Notes at 101% of principal amount plus accrued interest.
Price Impact
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