Zoetis to pay down revolver with proceeds of offering of senior notes

By Wendy Van Sickle

Columbus, Ohio, Nov. 9 – Zoetis Inc. plans to repay amounts drawn under its revolving credit facility to fund its $765 million purchase of Salar Topco AS with some proceeds from a new offering of senior notes, according to a filing with the Securities and Exchange Commission.

The company also plans to use proceeds to pay at maturity the principal of its $400 million of 1.15% senior notes due 2016 and for general corporate purposes.

Based in New York, Zoetis makes animal health medicines and vaccines.

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