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TORONTO, Sept. 28, 2026 /CNW/ -- Apotex Health Corp. (TSX: APTX) ("Apotex" or the "Company") announced today that it has priced a private placement offering (the "Offering") of $1,250 million aggregate principal amount of senior unsecured notes in three series (the "Notes"), consisting of $400 million aggregate principal amount of 4.390% senior unsecured notes, Series 1 due October 5, 2029, $550 million aggregate principal amount of 4.769% senior unsecured notes, Series 2 due October 5, 2031 and $300 million aggregate principal amount of 5.133% senior unsecured notes, Series 3 due October 5, 2033. The Notes are being offered on an agency basis by a syndicate of agents led by RBC Capital Markets, BMO Capital Markets, Scotiabank and TD Securities, as joint bookrunners, and ATB Cormark Capital Markets, CIBC Capital Markets, and National Bank of Canada Capital Markets, as co-managers.
"This inaugural bond offering represents an important milestone for Apotex and supports our objective of building a long-term presence in the Canadian debt capital markets," said Brian McClelland, Chief Financial Officer of Apotex. "The strong interest from institutional investors, with demand materially exceeding the size of the offering, reflects confidence in our business, financial profile, and long-term strategy. The proceeds will be used to refinance existing debt and further strengthen our capital structure, consistent with our commitment to maintaining an investment-grade credit profile and disciplined financial management. This transaction enhances our financial flexibility while supporting the continued execution of our Journey of Health strategy."
The Notes will be direct, senior, unsecured obligations of the Company, ranking equally with all other senior unsecured and unsubordinated indebtedness of the Company. The Notes will be jointly and severally guaranteed on a senior unsecured basis by certain subsidiaries of the Company. Apotex will use the net proceeds of the Offering to refinance existing indebtedness and for other general corporate purposes. The Notes are being offered on a private-placement basis in each of the provinces of Canada with reliance upon exemptions from the prospectus requirements under applicable securities laws. On July 16, 2026, the Company received an inaugural investment-grade issuer rating of BBB (Low) with a Stable outlook from Morningstar DBRS. The Company expects that the Notes will also be assigned a rating of BBB (Low) from Morningstar DBRS with a Stable outlook. The closing of the Offering is expected to take place on or about October 5, 2026.
The Notes have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the U.S. Securities Act). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Apotex
Apotex is a Canadian-based global health company. We improve everyday access to affordable, innovative medicines and health products for millions of people around the world, with a broad portfolio of generic, biosimilar, and innovative branded pharmaceuticals, and consumer health products. Headquartered in Toronto, with regional offices globally, including in the United States, Mexico, and India, we are the largest Canadian-based pharmaceutical company and a health partner of choice for the Americas for pharmaceutical licensing and product acquisitions.
Forward-Looking Statements
This press release contains forward-looking information within the meaning of applicable securities laws. Forward-looking information in this press release includes, amongst others, statements relating to the Offering, including the timing and completion thereof, investor confidence in our business, financial profile and strategy, the expected use of the net proceeds of the Offering, Apotex's objective to build a long-term presence in the Canadian debt capital markets, the Company strengthening its capital structure, the Company's commitment to maintaining an investment-grade credit profile and disciplined financial management, Apotex enhancing its financial flexibility while continuing to execute its Journey of Health Strategy, and the expected credit ratings to be assigned to the Notes. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances.
Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, failure to complete the Offering and the factors discussed under "Risk Factors" in the Company's supplemented PREP prospectus dated June 10, 2026. Apotex undertakes no obligation to publicly update or review any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
SOURCE Apotex Health Corp.
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