08:04 AM EDT, 09/03/2024 (MT Newswires) -- Jazz Pharmaceuticals ( JAZZ ) said Tuesday that its subsidiary Jazz Investments I plans to offer $850 million of exchangeable senior notes due 2030 in a private offering.

The company said initial purchasers of the notes will be granted a 13-day option to buy up to an additional $150 million of notes.

The company also said it expects to repurchase up to $150 million of its ordinary shares from purchasers of the notes in private transactions along with the pricing of the notes offering.

The company said it plans to use a portion of the net proceeds from the notes offering to prepay up to about $350 million of the term loans outstanding under its credit agreement. The remainder will be used for general corporate purposes, Jazz added.