Abbott tenders for CFR unit’s $300 million 5.125% senior notes due 2022

By Susanna Moon

Chicago, Dec. 15 – Abbott said wholly owned subsidiary Abbott Laboratories (Chile) Holdco (Dos) SpA began a tender offer for the $300 million principal amount of 5.125% senior notes due 2022 issued by CFR International SpA, a subsidiary.

The company also is soliciting consents to amend the notes to eliminate substantially all of the restrictive covenants and events of default, according to a press release.

Holders who tender their notes must consent to the proposed amendments, and they may not deliver consents to the proposed amendments without tendering the related notes.

The tender offer will end at noon ET on Jan. 14.

The total purchase price will be $1,126.25 per $1,000 principal amount of notes tendered by 5 p.m. ET on Dec. 29.

Those who tender their notes after the early deadline will receive $1,096.25 per $1,000 of notes.

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

The offer is conditioned on securing consents from holders of at least a majority of the outstanding notes and the proposed amendments becoming effective but is not conditioned on the receipt of financing, the release noted.

Global Bondholder Services Corp. (866 924-2200) is the information agent.

The pharmaceutical health care products company is based in Abbott Park, Ill.

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