Perrigo Addresses Senior Debt Obligations
Ticker: PRGO · Form: 8-K · Filed: Sep 17, 2024 · CIK: 1585364
| Field | Detail |
|---|---|
| Company | Perrigo Co PLC (PRGO) |
| Form Type | 8-K |
| Filed Date | Sep 17, 2024 |
| Risk Level | medium |
| Pages | 11 |
| Reading Time | 13 min |
| Key Dollar Amounts | $715 million, $1,076 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, financing, material-agreement
Related Tickers: PRGO
TL;DR
Perrigo's refinancing its notes and loans due 2024-2043.
AI Summary
On September 11, 2024, Perrigo Co plc entered into a material definitive agreement related to its senior notes. Specifically, the company is addressing its A39 Senior Note Due 2024, A4375 Senior Note Due March 15, 2026, A313 Senior Note Due 2030, A530 Unsecured Senior Notes Due November 15, 2043, and A49 Senior Loan Due 2024.
Why It Matters
This filing indicates Perrigo is actively managing its debt structure, which could impact its financial flexibility and future borrowing capacity.
Risk Assessment
Risk Level: medium — The nature of the definitive agreement and its terms are not fully disclosed, leaving potential risks related to debt restructuring or new financing unclear.
Key Players & Entities
- Perrigo Co plc (company) — Registrant
- A39 Senior Note Due 2024 (dollar_amount) — Debt Obligation
- A4375 Senior Note Due March 15, 2026 (dollar_amount) — Debt Obligation
- A313 Senior Note Due 2030 (dollar_amount) — Debt Obligation
- A530 Unsecured Senior Notes Due November 15, 2043 (dollar_amount) — Debt Obligation
- A49 Senior Loan Due 2024 (dollar_amount) — Debt Obligation
FAQ
What specific material definitive agreement did Perrigo Co plc enter into on September 11, 2024?
The filing indicates Perrigo entered into a material definitive agreement related to its senior notes and loans, specifically mentioning the A39 Senior Note Due 2024, A4375 Senior Note Due March 15, 2026, A313 Senior Note Due 2030, A530 Unsecured Senior Notes Due November 15, 2043, and A49 Senior Loan Due 2024.
What is the nature of the obligation created by this agreement?
The filing states it is the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant.
What are the specific debt instruments Perrigo is addressing?
Perrigo is addressing its A39 Senior Note Due 2024, A4375 Senior Note Due March 15, 2026, A313 Senior Note Due 2030, A530 Unsecured Senior Notes Due November 15, 2043, and A49 Senior Loan Due 2024.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on September 11, 2024.
What is Perrigo Co plc's Standard Industrial Classification (SIC) code?
Perrigo Co plc's SIC code is 2834, which corresponds to Pharmaceutical Preparations.
Filing Stats: 3,343 words · 13 min read · ~11 pages · Grade level 12.2 · Accepted 2024-09-17 17:25:04
Key Financial Figures
- $715 million — nnounced the closing of its offering of $715 million aggregate principal amount of its 6.125
- $1,076 million — ds from the offering were approximately $1,076 million (USD equivalent), after deducting the u
Filing Documents
- d852825d8k.htm (8-K) — 68KB
- d852825dex11.htm (EX-1.1) — 282KB
- d852825dex41.htm (EX-4.1) — 232KB
- d852825dex43.htm (EX-4.3) — 246KB
- d852825dex51.htm (EX-5.1) — 70KB
- d852825dex52.htm (EX-5.2) — 45KB
- d852825dex53.htm (EX-5.3) — 65KB
- d852825dex54.htm (EX-5.4) — 13KB
- d852825dex55.htm (EX-5.5) — 13KB
- d852825dex56.htm (EX-5.6) — 79KB
- d852825dex57.htm (EX-5.7) — 11KB
- d852825dex991.htm (EX-99.1) — 12KB
- g852825g0917231701982.jpg (GRAPHIC) — 4KB
- g852825g0917232625947.jpg (GRAPHIC) — 2KB
- g852825g0918011731180.jpg (GRAPHIC) — 2KB
- g852825g20q62.jpg (GRAPHIC) — 3KB
- g852825page19a.jpg (GRAPHIC) — 4KB
- g852825page20.jpg (GRAPHIC) — 5KB
- 0001193125-24-220737.txt ( ) — 1595KB
- prgo-20240911.xsd (EX-101.SCH) — 4KB
- prgo-20240911_def.xml (EX-101.DEF) — 15KB
- prgo-20240911_lab.xml (EX-101.LAB) — 26KB
- prgo-20240911_pre.xml (EX-101.PRE) — 16KB
- d852825d8k_htm.xml (XML) — 10KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit 1.1 Underwriting Agreement, dated as of September 11, 2024, among the Issuer, the Company, the Subsidiary Guarantors, BofA Securities Inc. as representatives of the several underwriters for USD Notes named therein, BofA Securities Europe SA, HSBC Securities (USA) Inc., J.P. Morgan Securities plc, ING Financial Markets LLC, Morgan Stanley & Co. LLC, Wells Fargo Securities International Limited, BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, Mizuho International plc, Capital One Securities, Inc., Goodbody Stockbrokers UC, Huntington Securities, Inc., MUFG Securities (Europe) N.V., PNC Capital Markets LLC and SG Americas Securities, LLC. Exhibit 4.1 Sixth Supplemental Indenture dated as of September 17, 2024, among the Issuer, the Company, the Subsidiary Guarantors and Computershare Trust Company, N.A., as trustee. Exhibit 4.2 Form of 6.125% Note due 2032 (included in the Sixth Supplemental Indenture filed as Exhibit 4.1). Exhibit 4.3 Seventh Supplemental Indenture dated as of September 17, 2024, among the Issuer, the Company, the Subsidiary Guarantors and Computershare Trust Company, N.A., as trustee. Exhibit 4.4 Form of 5.375% Note due 2032 (included in the Seventh Supplemental Indenture filed as Exhibit 4.3). Exhibit 5.1 Opinion of A&L Goodbody. Exhibit 5.2 Opinion of Fried, Frank, Harris, Shriver & Jacobson LLP. Exhibit 5.3 Opinion of Fried, Frank, Harris, Shriver & Jacobson (London) LLP. Exhibit 5.4 Opinion of Warner Norcross + Judd LLP. Exhibit 5.5 Opinion of Warner Norcross + Judd LLP. Exhibit 5.6 Opinion of Stibbe BV/SRL. Exhibit 5.7 Opinion of Deputy General Counsel. Exhibit 23.1 Consent of A&L Goodbody (included in Exhibit 5.1). Exhibit 23.2 Consent of Fried, Frank, Harris, Shriver & Jacobson LLP (included in Exhibit 5.2). Exhibit 23.3 Consent of Fried, Frank, Harris, Shriver & Jacobson (London) LLP (included in Exhibit 5.3). Exhibit 2