On October 1, 2012, Elan announced the election to redeem all of the 2016 Fixed Rate Notes, not purchased in the Tender Offer (the Redemption Offer). The total consideration for the Redemption Offer was $1,087.50 per $1,000 principal amount of 2016 Fixed Rate Notes, plus accrued and unpaid interest to the date of payment. The Redemption Offer is expected to close on October 31, 2012.Following the completion of the issuance of the 2019 Fixed Rate Notes and the Tender Offer, along with the expected completion of the Redemption Offer on October 31, 2012 of the remaining $43.7 million in aggregate principal amount of 2016 Fixed Rate Notes, the principal amount of Elan’s debt has been reduced from $624.5 million at September 30, 2012 to $600.0 million on a pro forma basis. As a consequence of the Tender Offer and the Redemption Offer, Elan will record a net charge on debt retirement of approximately $76 million in the fourth quarter of 2012 (including a non-cash write-off of approximately $18 million related to unamortized deferred financing costs).
|Three Months Ended||Nine Months Ended|
|September 30||September 30|
|—||117.3||Impairment of Janssen AI||—||117.3|