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Elan Corporation PLC (ELN) Announces Expiration of Offers to Purchase Senior Notes


10/17/2011 9:45:17 AM

DUBLIN--(BUSINESS WIRE)--Elan Corporation, plc (“Elan”) (NYSE: ELN) announced today the expiration and final results of the previously announced offers to purchase of the senior notes issued by Elan’s wholly-owned subsidiaries, Elan Finance public limited company (“Elan Finance”) and Elan Finance Corp. (“Elan Finance Corp.” and, together with Elan Finance, the “Co-Issuers”). The offers to purchase, and a simultaneous redemption of all of Elan’s outstanding senior floating rate notes due 2013, are part of Elan’s measures to reduce its indebtedness using the cash proceeds received in connection with the combination of its EDT business with Alkermes Inc., which closed September 16, 2011.

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