OAKVILLE, ON, Oct. 6, 2016 /PRNewswire/ - Concordia
International Corp. ("Concordia" or the "Company") (NASDAQ: CXRX)
(TSX: CXR), an international specialty pharmaceutical company
focused on generic and legacy pharmaceutical products and orphan
drugs, today announced the pricing of its previously disclosed
offering (the "Offering") of 5 ½ year Senior Secured First Lien
Notes (the "Notes").
The Senior Notes will bear an interest rate of 9.00 per cent per
annum and will be issued at 100.00 per cent of their face value.
The principal amount of the Notes is US$350
million.
The Offering is expected to close on or about October 13, 2016, subject to satisfaction of
customary closing conditions
Concordia intends to use the net proceeds from the Offering for
general corporate purposes, including funding of pipeline products
and funding small regional product acquisitions
The Notes are being offered and sold in the United States to qualified institutional
buyers pursuant to Rule 144A under the Securities Act of 1933, as
amended (the "Securities Act"), and to certain non-U.S. persons,
including persons resident in Canada, in accordance with Regulation S under
the Securities Act and other applicable securities laws.
The Notes will not be registered under the Securities Act or the
securities laws of any state or any other jurisdiction and may not
be offered or sold in the United
States absent an effective registration statement or an
applicable exemption from the registration requirements under the
Securities Act and applicable state securities laws and foreign
securities laws. Any offer or sale of the Notes in Canada will be made on a private placement
basis in a manner that is exempt from the prospectus requirements
of applicable Canadian securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sales of the Notes in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. This notice is being issued pursuant to and
in accordance with Rule 135(c) under the Securities Act.
About Concordia
Concordia is a diverse, international specialty pharmaceutical
company focused on generic and legacy pharmaceutical products and
orphan drugs. The Company has an international footprint with sales
in more than 100 countries, and has a diversified portfolio of more
than 200 established, off-patent molecules that make up more than
1,300 SKUs. Concordia also markets orphan drugs through its Orphan
Drugs Division, consisting of Photofrin® for the treatment of
certain rare forms of cancer, which is currently undergoing testing
for potential new indications.
Concordia operates out of facilities in Oakville, Ontario and, through its
subsidiaries, operates out of facilities in Bridgetown, Barbados; London, England and Mumbai, India.
Notice regarding forward-looking statements:
This press release includes forward-looking statements within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and forward-looking information within the
meaning of Canadian securities laws, regarding Concordia and its
business, which may include, but are not limited to, the use of
proceeds of the Offering, the completion of the Offering and timing
thereof, the anticipated number of product launches, acquisition
opportunities and the funding of such acquisitions and other
factors. Often, but not always, forward-looking statements and
forward-looking information can be identified by the use of words
such as "plans", "is expected", "expects", "scheduled", "intends",
"contemplates", "anticipates", "believes", "proposes" or variations
(including negative and grammatical variations) of such words and
phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.
Such statements are based on the current expectations of
Concordia's management, and are based on assumptions and subject to
risks and uncertainties. Although Concordia's management believes
that the assumptions underlying these statements are reasonable,
they may prove to be incorrect. The forward-looking events and
circumstances discussed in this press release may not occur by
certain specified dates or at all and could differ materially as a
result of known and unknown risk factors and uncertainties
affecting Concordia, including risks relating to the inability to
complete the Offering, risks associated with the Offering,
Concordia's securities, risks associated with developing new
product indications, increased indebtedness and leverage, the
inability to generate cash flows, revenues and/or stable margins,
the inability to grow organically, the inability to repay debt
and/or satisfy future obligations (including, without limitation,
earn out obligations), risks associated with Concordia's
outstanding debt, risks associated with the geographic markets in
which Concordia operates and/or distributes its products, risks
associated with fluctuations in exchange rates (including, without
limitation, fluctuations in currencies), risks associated with the
use of Concordia's products to treat certain diseases, the
pharmaceutical industry and the regulation thereof, regulatory
investigations, the failure to comply with applicable laws, risks
relating to distribution arrangements, possible failure to realize
the anticipated benefits of acquisitions and/or product launches,
risks associated with the integration of assets and businesses into
Concordia's business, product launches, the inability to launch
products, the fact that historical and projected financial
information may not be representative of Concordia's future
results, the failure to obtain regulatory approvals, economic
factors, market conditions, acquisition opportunities, risks
associated with the acquisition and/or launch of pharmaceutical
products, risks regarding clinical trials and/or patient enrollment
into clinical trials, the equity and debt markets generally, risks
associated with growth and competition (including, without
limitation, with respect to Concordia's niche, hard-to-make
products), general economic and stock market conditions, risks
associated with the United
Kingdom's exit from the European Union (including, without
limitation, risks associated with regulatory changes in the
pharmaceutical industry, changes in cross-border tariff and cost
structures and the loss of access to the European Union global
trade markets), risks related to patent infringement actions, the
loss of intellectual property rights, risks and uncertainties
detailed from time to time in Concordia's filings with the
Securities and Exchange Commission and the Canadian Securities
Administrators and many other factors beyond the control of
Concordia. Although Concordia has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements and forward-looking information, there
may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended. No
forward-looking statement or forward-looking information can be
guaranteed. Except as required by applicable securities laws,
forward-looking statements and forward-looking information speak
only as of the date on which they are made and Concordia undertakes
no obligation to publicly update or revise any forward-looking
statement or forward-looking information, whether as a result of
new information, future events, or otherwise.
SOURCE Concordia International Corp.