ABBOTT PARK, Ill., Dec. 15, 2014
/PRNewswire/ -- Abbott (NYSE: ABT) today announced that its
wholly-owned subsidiary, Abbott Laboratories (Chile) Holdco (Dos) SpA, a Chilean corporation
("ALH"), has commenced a tender offer (the "U.S. Notes Offer"), in
which it is offering to purchase for cash any and all of the
outstanding $300 million aggregate
principal amount of 5.125% Senior Notes due 2022 (the "Notes")
issued by CFR International SpA, a Chilean corporation and
subsidiary of ALH. In conjunction with the U.S. Notes Offer, ALH is
soliciting consents to proposed amendments to the indenture
governing the Notes (the "Proposed Amendments") that will eliminate
substantially all of the restrictive covenants, as well as various
events of default and related provisions. Holders who tender their
Notes must consent to the Proposed Amendments, and no consents to
the Proposed Amendments may be delivered without tendering the
related Notes.
The U.S. Notes Offer will expire at 12
p.m., New York City time,
on Jan. 14, 2015, unless extended or
earlier terminated (the "Expiration Time").
ALH is offering to pay:
- To holders who validly tender their Notes and consent to the
Proposed Amendments before 5 p.m.,
New York City time, on
Dec. 29, 2014, unless extended or
earlier terminated (the "Early Payment Deadline"), $1,126.25 per $1,000 principal amount of Notes; and
- To holders who validly tender their Notes and consent to the
Proposed Amendments after the Early Payment Deadline, but before
the Expiration Time, $1,096.25 per
$1,000 principal amount of
Notes.
All Holders whose Notes are purchased in the U.S. Notes Offer
will be paid accrued and unpaid interest on their purchased Notes
to, but not including, the date of payment for their
Notes.
The U.S. Notes Offer is subject to the satisfaction of certain
conditions including: (i) consents to the Proposed Amendments from
holders of at least a majority of the aggregate principal amount of
the outstanding Notes, (ii) the Proposed Amendments becoming
effective and (iii) certain other customary conditions. The U.S.
Notes Offer is not conditioned on the receipt of financing.
The complete terms and conditions of the U.S. Notes Offer are
described in the Offer to Purchase and Consent Solicitation dated
Dec. 15, 2014, and the related Letter
of Transmittal, copies of which may be obtained from Global
Bondholder Services Corporation, the information agent for the U.S.
Notes Offer and the consent solicitation, by calling
1-866-924-2200.
About Abbott
Abbott is a global healthcare company
devoted to improving life through the development of products and
technologies that span the breadth of healthcare. With a portfolio
of leading, science-based offerings in diagnostics, medical
devices, nutritionals and branded generic pharmaceuticals, Abbott
serves people in more than 150 countries and employs approximately
69,000 people.
Visit Abbott at www.abbott.com and connect with us on
Twitter at @AbbottNews.
Private Securities Litigation Reform Act of 1995 – A Caution
Concerning Forward-Looking Statements
Some statements in
this news release may be forward-looking statements for purposes of
the Private Securities Litigation Reform Act of 1995. Abbott
cautions that these forward-looking statements are subject to risks
and uncertainties that may cause actual results to differ
materially from those indicated in the forward-looking statements.
Such risks and uncertainties include the failure to consummate the
tender offer and potential changes in market conditions, as well as
certain economic, competitive, governmental, technological and
other factors that may affect Abbott's operations, which are
discussed in Item 1A, "Risk Factors," to our Annual Report on
Securities and Exchange Commission Form 10-K for the year
ended Dec. 31, 2013 and are incorporated by reference. Abbott
undertakes no obligation to release publicly any revisions to
forward-looking statements as a result of subsequent events or
developments, except as required by law.
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SOURCE Abbott