JAZZ Completes $1.25 Billion Exchangeable Senior Notes Offering and Share Repurchase

Jazz Pharmaceuticals' subsidiary, Jazz Investments I Limited, has completed a private offering of $1.25 billion in 1.875% exchangeable senior notes due 2032. The offering, which closed on August 31, 2026, included the full exercise of a $150 million purchase option by the initial purchasers. Net proceeds are estimated to be approximately $1.226 billion and will be used for general corporate purposes. Concurrently, the company repurchased $225 million of its ordinary shares.

Key Details

• Offering: $1.25 billion in 1.875% exchangeable senior notes, maturing on September 15, 2032.
• Net Proceeds: The company estimates net proceeds of approximately $1.226.4 million after deducting discounts and expenses.
• Share Repurchase: Concurrently with the offering, the company repurchased approximately $225.0 million of its ordinary shares at $249.29 per share, the closing price on August 26, 2026.
• Exchange Terms: The notes have an initial exchange price of approximately $355.24 per ordinary share, representing an initial exchange rate of 2.8150 shares per $1,000 principal amount.