DUBLIN, July 22,
2024 /PRNewswire/ -- Jazz Pharmaceuticals plc
(Nasdaq: JAZZ) ("Jazz Pharmaceuticals") today announced that it has
completed a repricing of the approximately $2.7 billion outstanding balance of its U.S.
dollar term loans under its credit facility. The applicable margin
above Term SOFR will be reduced by 75 basis points (from 300 basis
points to 225 basis points) and the credit spread adjustment will
be removed, resulting in anticipated interest savings of
approximately $23 million on an
annualized basis. All other terms are substantially unchanged.
Irrevocable Election of Settlement Method for the 2.000%
Exchangeable Senior Notes due 2026
Jazz Investments I Limited (the "Issuer"), a subsidiary of Jazz
Pharmaceuticals, today announced that it provided written notice to
the exchange agent, the trustee and the holders of its 2.000%
Exchangeable Senior Notes due 2026 (the "2026 notes") that it has
irrevocably elected to fix the settlement method for exchanges of
the 2026 notes to a combination of cash and ordinary shares of Jazz
Pharmaceuticals with a specified cash amount per $1,000 principal amount of 2026 notes exchanged
equal to or in excess of $1,000. As a
result, for any 2026 notes exchanged subsequent to such notice, an
exchanging holder will receive (i) up to $1,000 in cash per $1,000 principal amount of 2026 notes exchanged
and (ii) cash, ordinary shares, or any combination thereof, at the
Issuer's election, in respect of the remainder, if any, of its
exchange obligation in excess of $1,000 per $1,000
principal amount of 2026 notes exchanged.
About Jazz Pharmaceuticals
Jazz Pharmaceuticals
plc (Nasdaq: JAZZ) is a global biopharma company whose purpose
is to innovate to transform the lives of patients and their
families. We are dedicated to developing life-changing medicines
for people with serious diseases — often with limited or no
therapeutic options. We have a diverse portfolio of marketed
medicines, including leading therapies for sleep disorders and
epilepsy, and a growing portfolio of cancer treatments. Our
patient-focused and science-driven approach powers pioneering
research and development advancements across our robust pipeline of
innovative therapeutics in oncology and neuroscience. Jazz is
headquartered in Dublin, Ireland with research and
development laboratories, manufacturing facilities and employees in
multiple countries committed to serving patients worldwide. Please
visit www.jazzpharmaceuticals.com for more
information.
Caution Concerning Forward-Looking
Statements
This press release contains forward-looking
statements, including, but not limited to, statements related to
anticipated interest savings; settlement and exchanges of the 2026
notes; and other statements that are not historical facts. These
forward-looking statements are based on Jazz Pharmaceuticals'
current plans, objectives, estimates, expectations and intentions
and inherently involve significant risks and uncertainties. Do not
place undue reliance on these forward-looking statements, which
speak only as of the date hereof. Actual results and the timing of
events could differ materially from those anticipated in such
forward-looking statements as a result of these risks and
uncertainties, which include, without limitation, the Company's
ability to pay cash amounts and issue ordinary shares due upon
exchange of the 2026 notes; the Company's ability to service its
debt obligations; and other risks and uncertainties affecting Jazz
Pharmaceuticals, including those described from time to time under
the caption "Risk Factors" and elsewhere in Jazz Pharmaceuticals'
Securities and Exchange Commission filings and reports, including
Jazz Pharmaceuticals' Annual Report on Form 10-K for the year ended
December 31, 2023, as supplemented by
its Quarterly Report on Form 10-Q for the quarter ended
March 31, 2024, and any future
filings and reports by Jazz Pharmaceuticals. Other risks and
uncertainties of which Jazz Pharmaceuticals is not currently aware
may also affect Jazz Pharmaceuticals' forward-looking statements
and may cause actual results and the timing of events to differ
materially from those anticipated. The forward-looking statements
herein are made only as of the date hereof or as of the dates
indicated in the forward-looking statements, even if they are
subsequently made available by Jazz Pharmaceuticals on its website
or otherwise. Jazz Pharmaceuticals undertakes no obligation to
update or supplement any forward-looking statements to reflect
actual results due to any new information, future events, changes
in its expectations or other circumstances that exist after the
date as of which the forward-looking statements were made.
Contacts:
Investors:
Andrea N. Flynn, Ph.D.
Vice President, Head, Investor Relations
Jazz Pharmaceuticals plc
InvestorInfo@jazzpharma.com
Ireland +353 1 634 3211
U.S. +1 650 496 2717
Media:
Kristin
Bhavnani
Head of Global Corporate Communications
Jazz Pharmaceuticals plc
CorporateAffairsMediaInfo@jazzpharma.com
Ireland +353 1 637 2141
U.S. +1 215 867 4948
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SOURCE Jazz Pharmaceuticals plc