Mead Johnson to repay term loan debt via senior note offering

By Tali Rackner

Norfolk, Va., Oct. 29 – Mead Johnson Nutrition Co. plans to use the proceeds from a new senior note offering to repay debt incurred under a $1 billion term loan facility entered into on Oct. 21, according to a 424B5 filing with the Securities and Exchange Commission.

The debt, which matures on April 21, 2016, was incurred to finance the repurchase of common stock.

The remainder of the net proceeds will be used for general corporate purposes. Pending the use for these purposes, the company said it may temporarily invest all or a portion of the net proceeds in short-term, investment-grade securities.

Based in Glenview, Ill., Mead Johnson makes pediatric nutrition products.

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