Elan announces offering price

Pharmaceutical company Elan today announced the pricing of the offering of $1.15bn (€892m) aggregate principal amount of senior notes by its wholly-owned subsidiaries, Elan Finance public limited company and Elan Finance Corp.

Elan increased the size of the offering from the $850m (€659m) aggregate principal amount previously announced.

The senior notes consist of $850m (€659m) aggregate principal amount of 7.75% senior fixed rate notes due 2011 and $300m (€232.7m) aggregate principal amount of senior floating rate notes due 2011.