07:37 AM EDT, 05/08/2024 (MT Newswires) -- Organon (OGN) said late Tuesday that it and its unit Organon Foreign Debt Co-Issuer have priced an offering of $500 million of 6.750% senior secured notes that mature in 2034.

Organon said the issuers have also priced a $500 million offering of 7.875% senior unsecured notes that mature in 2034.

Net proceeds will be used to repay a portion of borrowings under a US dollar-denominated "tranche B" term loan.

The initial offering price will be 100% of the principal amount.

The offering is slated to be completed on May 17.

Price: 20.55, Change: +0.15, Percent Change: +0.74