Perrigo Company plc announced the early tender results of the previously announced cash tender offer by Perrigo Finance Unlimited Company, its wholly-owned finance subsidiary, to purchase its 3.900% Senior Notes due 2024 (CUSIP /ISIN Nos. 714295 AC6 /US714295AC63) in a principal amount of up to $300,000,000. The terms and conditions of the Tender Offer are set forth in an Offer to Purchase, dated November 10, 2023.
Holders of Notes who validly tendered and did not validly withdraw their Notes on or before the Early Tender Date, and whose Notes are accepted for purchase in the Tender Offer, will be entitled to receive the Total Consideration, which includes an early tender premium of $30.00 per $1,000 principal amount of Notes. In addition, holders whose Notes are accepted for purchase in the Tender Offer will receive accrued and unpaid interest, if any, to, but excluding, the date on which the Tender Offer is settled. Subject to the satisfaction or waiver of the conditions set forth in the Offer to Purchase, the Issuer anticipates that settlement of Notes accepted for purchase will occur on December 15, 2023. The Tender Offer will expire at 5:00 p.m., New York City time, on December 12, 2023, unless extended.
The time and date on or before which validly tendered Notes may be validly withdrawn expired at 5:00 p.m., New York City time, on November 28, 2023. Holders may not validly withdraw any validly tendered Notes after that time and date, unless required by law. The consummation of the Tender Offer is subject to the satisfaction of certain conditions as set forth in the Offer to Purchase, including, among other things, the closing and funding of the Proposed Financing on terms reasonably satisfactory to the Company (the "Financing Condition").
As previously disclosed, to finance the Tender Offer, the Company, through a wholly owned subsidiary, is concurrently seeking to borrow $300,000,000 of incremental term loans under its existing senior secured credit facilities, subject to market and other conditions. The Financing Condition is expected to be satisfied on or before December 15, 2023. The Issuer reserves the right, in its sole discretion, to waive any and all conditions to the Tender Offer with respect to the Notes.