Jazz Pharmaceuticals priced $1.1 billion of 1.875% exchangeable senior notes due 2032, upsizing the offering from $1 billion, and granted initial purchasers an option to buy up to an additional $150 million. The notes are expected to close on Aug. 31, 2026, and will pay interest semiannually beginning March 15, 2027. They will initially be exchangeable at a rate of 2.8150 ordinary shares per $1,000 principal amount, equivalent to an exchange price of about $355.24 per share, a premium of approximately 42.5% to the Aug. 26 closing price. Jazz Pharmaceuticals expects net proceeds of about $1.079 billion, or $1.2264 billion if the option is fully exercised, for general corporate purposes. Concurrently, it agreed to repurchase about $225 million of its ordinary shares at $249.29 per share using existing cash.