DUBLIN , July 22, 2024 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ ) ("Jazz Pharmaceuticals") today announced that it has completed a repricing of the approximately $2.7 billion outstanding balance of its U.S.
dollar term loans under its credit facility. The applicable margin above Term SOFR will be reduced by 75 basis points (from 300 basis points to 225 basis points) and the credit spread adjustment will be removed, resulting in anticipated interest savings of approximately $23 million on an annualized basis. All other terms are substantially unchanged.
Irrevocable Election of Settlement Method for the 2.000% Exchangeable Senior Notes due 2026 Jazz Investments I Limited (the "Issuer"), a subsidiary of Jazz Pharmaceuticals, today announced that it provided written notice to the exchange agent, the trustee and the holders of its 2.000% Exchangeable Senior Notes due 2026 (the "2026 notes") that it has irrevocably elected to fix the settlement method for exchanges of the 2026 notes to a combination of cash and ordinary shares of Jazz Pharmaceuticals with a specified cash amount per $1,000 principal amount of 2026 notes exchanged equal to or in excess of $1,000 .
As a result, for any 2026 notes exchanged subsequent to such notice, an exchanging holder will receive (i) up to $1,000 in cash per $1,000 principal amount of 2026 notes exchanged and (ii) cash, ordinary shares, or any combination thereof, at the Issuer's election, in respect of the remainder, if any, of its .