DUBLIN, Ireland, Aug. 21, 2012 (GLOBE NEWSWIRE) -- Warner Chilcott plc (Nasdaq:WCRX) today announced that it has completed an amendment to its existing senior secured credit facilities, pursuant to which it has incurred an additional $600 million aggregate principal amount of new term loans. The new term loan facilities are comprised of a $300 million Term Loan B-4/5 bearing interest at LIBOR plus 3.00% with a five-year maturity, and a $300 million Additional Term Loan B-1 bearing interest at LIBOR plus 3.25% with a LIBOR floor of 1.00% and maturing on March 15, 2018. As previously announced, the Company intends to use the proceeds from the new term loans and cash on hand to fund a special cash dividend to its shareholders of $4.00 per share, or approximately $1.0 billion in the aggregate, and to pay related fees and expenses.
As a result of closing the amendment and the related borrowings, Warner Chilcott's board of directors has today declared a special cash dividend of $4.00 per share. The special cash dividend will be paid on September 10, 2012 to shareholders of record of the Company on August 31, 2012.
For general information regarding the tax treatment of the special cash dividend, including potential Irish dividend withholding tax, please refer to the sections entitled "Material Tax Considerations" in the Company's Prospectus Supplement filed with the Securities and Exchange Commission on November 23, 2009 and the Company's Proxy Statement for its 2009 Annual General Meeting of Shareholders, as well as the Frequently Asked Questions section of the Company's website at http://ir.wcrx.com/faq.cfm .Pursuant to the rules of The NASDAQ Stock Market, when a dividend is declared in a per share amount that exceeds 25% of a company's stock price, the date on which that company's shares will begin to trade without the dividend, or ex-dividend, is the first business day following the payment date, rather than the second business day prior to the record date. The Company intends to update its Investor Relations page website at http://ir.wcrx.com/ on or after August 28, 2012 to inform investors of NASDAQ's final determination as to whether or not the 25% threshold has been exceeded and the date on which the Company's shares will begin to trade ex-dividend. About Warner Chilcott Warner Chilcott is a leading specialty pharmaceutical company currently focused on the women's healthcare, gastroenterology, urology and dermatology segments of the branded pharmaceuticals market, primarily in North America. We are a fully integrated Company with internal resources dedicated to the development, manufacturing and promotion of our products. WCRX-F