Allergan to redeem zero-coupon convertibles due 2022

By Jennifer Chiou

New York, April 12 - Allergan, Inc. said it will redeem all of its zero-coupon senior convertible notes due 2022.

The redemption date is May 15.

Allergan said it will use the proceeds of a $750 million issue of 1.5% convertible senior notes due 2026 and an $800 million issue of 5¾% senior notes due 2016 to fund the redemption.

Wells Fargo Bank, NA is the trustee (800 344-5128).

Irvine, Calif.-based Allergan provides specialty pharmaceutical products in the ophthalmology, neurosciences, medical dermatology, medical aesthetics and other markets.

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