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Home Industry News Cardinal Health reveals results of debt tender offer

Cardinal Health reveals results of debt tender offer

15th September 2009

Cardinal Health has announced the early results of its debt tender offer related to the purchase of up to $1.2 billion (721 million pounds) of its long-term debt insecurities.

Part of a previously announced plan to reduce the firm’s long-standing debt, the tender offer comes after the completion of the planned spin-off of CareFusion and features notes from both Cardinal Heath and is fully-owned subsidiary Allegiance.

As of last Thursday, the company has acknowledged for purchase all notes with an acceptance priority level of one validly tendered and not validly withdrawn by the early tender time.

The tender offer will expire on September 24th, unless it is extended or terminated by the company.

Last week, Cardinal Health, which was formerly known as Cavendish Pharmaceuticals, announced that it had completed the sale of 81 per cent of the common stock shares of CareFusion.

It added that the common stock of CareFusion has now started regular trading on the New York Stock Exchange under the code CFN.

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