NEW YORK (GenomeWeb) – Roche announced late yesterday that it has commenced a $2.2 debt tender offer.
The Swiss pharmaceuticals, diagnostics, and research products giant said that it launched an offer to purchase for cash the 5.25 percent Senior Notes due 2035 issued by its Genentech subsidiary and the 7 percent Senior Notes due 2039 issued by Roche Holdings.
The Genentech Senior Notes have a principal outstanding amount of $500 million, while the Roche Holdings Senior Notes have a principal outstanding amount of $2.5 billion. It listed the Genentech notes as having a higher acceptance priority level.
The offer is set to expire on Nov. 26, 2014, unless Roche terminates or extends the offer before that time.