NEW YORK (GenomeWeb) – Alere today said that it intends to offer $425 million of senior subordinated notes through a private placement.
The notes are due 2023, and proceeds from the offering will be used to redeem the firm's outstanding $400 million aggregate principal amount of 8.625 percent senior subordinated notes due 2018. The private placement is expected to begin immediately, Alere said.
The firm said that the notes will not be registered under US securities law and as a result will not be offered or sold in the US.
Alere recently restated its first quarter financing results and said that revenues in the quarter slid 3 percent year over year.