Company: PRGO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001585364-25-000156
Chunk: 191

Company: PERRIGO Co plc
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 12
Chunk 191
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Perrigo Company plc - Item 1Note 12

NOTE 12 - INDEBTEDNESS

Total borrowings are summarized as follows (in millions): September 27, 2025December 31, 2024Term loansTerm A Loans due April 20, 2027(1)$428.1 $446.9 Term B Loans due April 20, 2029(1)974.9 982.2 Total term loans$1,403.0 $1,429.1 Notes and BondsCouponDue4.900%June 15, 2030(2)750.0 750.0 *5.375%September 30, 2032(3)409.5 362.4 6.125%September 30, 2032(3)715.0 715.0 5.300%November 15, 204390.5 90.5 4.900%December 15, 2044303.9 303.9 Total notes and bonds2,268.9 2,221.8 Other financing12.6 13.2 Unamortized premium (discount), net(20.7)(23.1)Deferred financing fees(19.1)(22.9)Total borrowings outstanding3,644.7 3,618.1 Current indebtedness(36.6)(36.4)Total long-term debt less current portion$3,608.1 $3,581.7 (1)    Discussed collectively herein as the "Senior Secured Credit Facilities".(2)     The coupon rate noted above is as of September 27, 2025. This increased from 4.650% to 4.900% on payments starting after June 15, 2024, following a credit rating downgrade by S&P Global Ratings in the first quarter of 2024. Future interest rate adjustments are subject to a 2.0% total cap above the original 3.150% interest rate which would result in an interest rate not to exceed 5.150% based on certain rating events as specified in the Note’s Supplemental Indenture No. 3, dated as of June 19, 2020, among Perrigo Finance Unlimited Company, Perrigo Company plc, the guarantors party thereto and Wells Fargo Bank, National Association, as trustee