Pfizer Announces Successful Consent Solicitation Results For Three Series Of Debt
<0> Pfizer Inc.Media Contact:Joan Campion, 212-733-2798orInvestor Contact:Suzanne Harnett, 212-733-8009 </0>
Pfizer Inc. (NYSE: PFE) today announced the results of its solicitation of consents to amend certain provisions of the indentures with respect to the following outstanding debt securities of its wholly-owned subsidiary Pharmacia Corporation:
Based on information provided by D.F. King & Co., Inc., the information and tabulation agent for the consent solicitation, as of 5:00 p.m., New York City time, on Thursday, August 23, 2012, the required consents from holders of the 6.50% Debentures due 2018, 6.75% Debentures due 2027 and 6.60% Debentures due 2028 had been received, and such consents had not been validly revoked prior to such expiration time. Adoption of the proposed amendments required consent of holders of at least a majority (greater than 50%) in principal amount of the outstanding 6.50% Debentures due 2018 and 6.60% Debentures due 2028 and of holders of at least 66 2/3% in principal amount of the outstanding 6.75% Debentures due 2027.
Pfizer expects to make the aggregate consent payment of approximately $3.0 million to consenting holders on or about August 24, 2012 in accordance with the terms of the consent solicitation.
Pfizer also announced today the extension of the expiration time for the consent solicitation from 5:00 p.m., New York City time, on Thursday, August 23, 2012, to 5:00 p.m., New York City time, on Monday, August 27, 2012 with respect to the $20,000,000 outstanding aggregate principal amount of 6.47% Notes due 2018, CUSIP No. 61167HBK8, and outstanding aggregate principal amount of $2,507,000 8.70% Debentures due 2021, CUSIP No. 71713UAR3.
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