Catamaran Corp. (NASDAQ: CTRX) said that it has agreed to sell USD500m aggregate principal amount of 4.75 percent senior notes due 2021 in an underwritten public offering.
The offering is expected to close on or about March 12, 2014, subject to customary closing conditions.
Catamaran said it intends to use the net proceeds from the offering to repay all outstanding indebtedness under its senior secured revolving credit facility and for general corporate purposes. The senior notes will be guaranteed by Catamaran´s wholly-owned subsidiaries that guarantee obligations under its senior secured credit facility.
BofA Merrill Lynch, J.P. Morgan and SunTrust Robinson Humphrey are acting as joint book-running managers for the offering, Barclays, Citigroup and Morgan Stanley are acting as senior co-managers for the offering, and Credit Agricole CIB, Credit Suisse, Fifth Third Securities, Mizuho Securities, PNC Capital Markets LLC and TD Securities are acting as co-managers for the offering.
Catamaran, one of the industry´s fastest-growing pharmacy benefits managers, helps organizations and the communities they serve take control of prescription drug costs. The company is headquartered in Schaumburg, Ill. with multiple locations in the US and Canada.