Elan prices note deal, gets subpoena

Elan Corp. plc (NYSE:ELN) raised $625 million late Tuesday through the sale of 8.8% senior notes due 2016. The company proposed to raise $600 million in notes earlier in the day. Elan plans to use part of the proceeds for refinancing existing debt. The company also started a cash tender offer on Tuesday for up to all of its $850 million in 7.8% senior notes due 2011. Morgan Stanley is deal manager of the tender offer. ...