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Bristol-Myers Squibb Company extends exchange offer expiration date of Celgene Corporation notes.

M2 PHARMA-November 18, 2019-Bristol-Myers Squibb Company extends exchange offer expiration date of Celgene Corporation notes


Pharma company Bristol-Myers Squibb Company (NYSE:BMY) on Friday reported the extension of the expiration date for exchange offers of Celgene Corporation notes from 17:00 on 15 November 2019 to 17:00 on 20 November 2019, which may be further extended.

Under the offer, Bristol-Myers has extended the expiration date of the offer to exchange the Celgene Corporation (NASDAQ:CELG) notes for up to USD19.85bn aggregate principal amount of Bristol-Myers Squibb Company's new notes and cash and the related consent solicitations to adopt certain proposed amendments to the indentures governing the Celgene notes.

On participation date of 1 May 2019, the requisite consents were received and supplemental indentures were executed, eliminating all restrictive covenants and certain events of default and other provisions in each of the indentures governing the Celgene notes.

The company added that the settlement date for the exchange offers is expected to occur promptly after the expiration date and on or about the closing date of the merger that is expected to occur by the end of 2019.

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Publication:M2 Pharma
Date:Nov 18, 2019
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