Perrigo Company plc announced that it has launched the syndication of new senior secured credit facilities expected to consist of (i) a $1,000 million five-year revolving credit facility (the "New Revolving Facility") and (ii) a $300 million five-year term loanA facility and a $800 million seven-year term loan B facility (the "New Term Loan Facilities" and, together with the New Revolving Facility, the "New Senior Secured Credit Facilities") through its indirect wholly-owned subsidiary, Perrigo Investments, LLC. The New Senior Secured Credit Facilities will be guaranteed by the Company and certain wholly-owned subsidiaries of the Company. Subject to market and other conditions, Perrigo intends to borrow approximately $1,600 million, inclusive of the New Term Loan Facilities and $500 million of other unsecured debt (but excluding undrawn availability under the New Revolving Facility).

The Company intends to use the net proceeds of these borrowings, together with cash on hand, to finance the purchase price for the previously announced acquisition of Héra SAS ("Héra") and to refinance certain existing indebtedness of the Company and its subsidiaries, including its outstanding term loan facility and outstanding debt securities maturing in 2023. The Company will use any amounts borrowed from time to time under the New Revolving Facility, which will replace its existing revolving facility, for general corporate purposes. The terms of the proposed refinancing, including but not limited to the principal amount, interest rate and maturity of the New Senior Secured Credit Facilities, and the consummation of the acquisition of Héra, are subject to a number of significant conditions, and there can be no assurance that the Company will consummate any of these transactions on the anticipated terms or timing, or at all.

In addition, entering into the New Senior Secured Credit Facilities is not conditioned upon consummation of the acquisition of Héra.