Jazz Pharmaceuticals closes $1.25 billion exchangeable senior notes offering due 2032
On August 31, 2026, Jazz Investments I Limited, a wholly owned subsidiary of Jazz Pharmaceuticals plc, closed a $1.25 billion private offering of 1.875% exchangeable senior notes due September 15, 2032, including the full $150.0 million option. The company also repurchased about $225.0 million of its ordinary shares from note purchasers at $249.29 per share, paid from cash on hand under its July 2024 repurchase program, which reduces the remaining authorization. For shareholders, the filing adds a senior unsecured debt obligation guaranteed by the company and sets an exchange price of about $355.24 per share.
Key points
- Notes total $1.25 billion in principal, carry a 1.875% interest rate, and mature September 15, 2032; the closing includes the full $150.0 million option.
- Estimated net proceeds are approximately $1,226.4 million, which the company expects to use for general corporate purposes.
- Initial exchange price is about $355.24 per ordinary share, a premium of about 42.5% over the August 26, 2026 closing price.
- About $225.0 million of ordinary shares were repurchased at $249.29 each, the August 26, 2026 closing price, using existing cash on hand.
The filing
Written by AI on Nov 8, 2026, 1:11 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 31, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.