Mallinckrodt sets roadshow for $1.2 billion two-part notes offering backing Ikaria acquisition

By Paul A. Harris

Portland, Ore., April 6 – Mallinckrodt International Finance SA plans to start a roadshow on Tuesday in New York for a $1.2 billion two-part offering of senior notes, according to an informed source.

Investor conference calls are scheduled to take place on Wednesday.

The Rule 144A and Regulation S for life deal is set to price thereafter.

The offering features $500 million of five-year notes, which come with two years of call protection, and $700 million of 10-year notes, which come with five years of call protection.

Goldman Sachs & Co. is the left bookrunner. Barclays and Deutsche Bank Securities Inc. are the joint bookrunners.

Proceeds, together with the a draw on the company’s revolver made on April 2 and cash on hand, will be used to help fund the acquisition of Ikaria, Inc., a Hampton, N.J.-based provider of proprietary and innovative therapies for the critical care units in hospitals.

Mallinckrodt is a Dublin-based pharmaceutical company with headquarters in St. Louis.

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