Source: www.crainsnewyork.com --- Friday, August 24, 2012
Pfizer Inc. said Friday that holders of about $1.32 billion of its Debt have agreed to changes to some of the Debt's conditions. The drug company said that as of Thursday it had received consents from holders of $461.6 million of 6.5% Debt due 2018, $200 million of 6.75% Debt due 2027 and $659 million of 6.6% Debt due 2028. The Debt is related to Pfizer's Pharmacia Corp. subsidiary. The company needed consents from holders representing more than half of both the 6.5% Debt due 2018 and 6.6% Debt due 2028, along with holders representing at least 66.66% of the 6.75% Debt due 2027. Pfizer said it expects to pay about $3 million to consenting holders on or about Friday as part of the agreement. The company also said Friday that it extended its consent solicitation for its $20 million of 6.47% notes due 2018 and $2.5 million in 8.7% Debt due 2021 from Thursday until this coming Monday. Pfizer shares rose 30 cents to $24.03 in afternoon trading. ...
Source: http://feeds.crainsnewyork.com/~r/crainsnewyork/finance/~3/hTB6C93CPsY/120829930
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