Catalent Pharma lifts tender offer cap for 9½%/10¼% PIK-election notes

By Marisa Wong

Madison, Wis., Sept. 5 - Catalent Pharma Solutions, Inc. is now tendering for up to $350 million of its $619,133,490 of 9½%/10¼% senior PIK-election notes due 2015, according to a company news release. The tender offer cap was increased from $250 million.

As before, the company will pay $1,027.50 per $1,000 principal amount of notes. The amount includes an early tender payment of $27.50 for notes tendered by 5 p.m. ET on Sept. 17, the early tender date.

The company will also pay accrued interest up to but excluding the settlement date.

Catalent may prorate the amount of notes accepted for purchase by the early tender date and has the option of purchasing any or all of the notes tendered on the final settlement date.

Holders may withdraw notes validly tendered at any time prior to the early tender date.

The offer began on Sept. 4 and expires at 11:59 p.m. ET on Oct. 1 and is not contingent upon the receipt of any minimum principal amount of notes.

Morgan Stanley & Co. LLC (800 624-1808 or 212 761-1057) is the dealer manager. D.F. King & Co., Inc. (800 290-6427) is the tender agent and information agent.

Catalent is a Somerset, N.J.-based provider of technologies and services for pharmaceutical, biotechnology and health-care companies.

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