Jazz Pharmaceuticals to repay revolver borrowings via note offering

By Sarah Lizee

Olympia, Wash., Aug. 17 – Jazz Pharmaceuticals plc plans to repay all or a portion of the $500 million of outstanding borrowings under its revolving credit facility using the net proceeds from a new note offering by its wholly owned subsidiary, Jazz Investments I Ltd.

The company plans to price $500 million of exchangeable senior notes due 2023, according to a company announcement.

Proceeds will also be used for general corporate purposes, including potential business development activities.

Jazz is a Dublin, Ireland-based biopharmaceutical company.

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