Perrigo Company plc Ordinary Shares (NYSE:PRGO) has announced that its subsidiary Perrigo Finance Unlimited Company has launched a cash tender offer whose principal amount is $1.4 billion.

Perrigo’s announcement revealed that the cash tender offer will involve the company’s 4% notes that will be due in 2023, and 5% notes due in 2043. The announcement also consisted of Perrigo Finance’s 4.9% notes due in 2044, 3.5% notes due in December 2021, 3.5% due in March 2021, 3.9% notes due in 2024 and 4.375% notes due in 2026. The company also released the terms and conditions of the tender offer.

Some of the terms and conditions pertaining to the offer

Perrigo announced that the tender offer will remain open until 11:59 p.m. on June 27, 2017 unless an extension of the offer is announced. The company also stated that the holders of the notes should validly tender the notes and not validly withdraw them not later than 5:00 p.m. (New York time) on June 13 this year. Once the deadline expires, then the note holders may not be able to withdraw unless in special circumstances where the additional withdrawal rights are endorsed by the law.

Meanwhile, the first settlement date will be June 15 this year and the final settlement date should be June 28, 2017. There is also a possibility that the dates may be changed without notice. Perrigo stated that the total consideration for each $1,000 principal amount for any of the tender classes will be determined as indicated in the guidelines of the tender offer. Those who purchase the tenders within the early deadline or prior to the Expiration will receive the applicable tender consideration for their notes. This equates to the applicable total consideration for the specific notes minus the early tender premium. The tender holders whose Notes will be accepted for the tender offer will be awarded accrued and unpaid interest on their purchased Notes.

Perrigo stock closed the latest trading session on Wednesday at $72.85.