Lantheus Medical Imaging is proposing a private offering to raise $150 million in aggregate principal amount on 9.75% senior unsecured notes.
Due 2017, the new notes are being offered as additional debt securities under an indenture to which Lantheus previously issued $250 million in aggregate principal amount of 9.75% senior notes due 2017, the company said.
Lantheus said it intends to use the net proceeds of the offering in part to make a distribution to its ultimate parent company, Lantheus MI Holdings. This will allow Lantheus MI Holdings to repurchase the remainder of its outstanding preferred stock and to pay a dividend to its common security holders. Related fees and expenses will also be paid.
