Walgreens Boots Launches Bond Tender After Sycamore Buyout Deal

Walgreens Boots Alliance Inc. is launching a multi-currency debt tender, marking the latest step in its capital restructuring after banks offloaded a $4.5 billion debt package to help finance Sycamore Partners’ buyout of the Boots pharmacy chain.

The company, through its unit Blazing Star Merger Sub Inc., is targeting 10 bonds due between 2025 and 2050 which have about $6.1 billion-equivalent of principal outstanding across US dollars, euros and British pounds, according to a statement late Tuesday. The tender offer will expire on Aug. 18 at 11:59 p.m. New York time.