Merck accepts tenders for €683.12 million of notes due 2074

By Sarah Lizee

Olympia, Wash., Sept. 9 – Merck KGaA announced the results of the tender offer for its €1 billion subordinated fixed- to reset-rate notes due 2074 with a first call date in 2021 (ISIN: XS1152338072).

The company has accepted for purchase all €683,116,000 of the tendered notes at a purchase price of 102.016.

The company will also pay accrued interest.

Following settlement on Sept. 10, €316,884,000 of the notes will remain outstanding.

The new financing condition for the offer was met on Sept. 2, the issuer said.

The offer launched on Sept. 2 and expired at 11 a.m. ET on Sept. 8.

The dealer managers are Barclays Bank plc (+ 44 20 3134 8515, eu.lm@barclays.com), BNP Paribas (+33 1 55 77 78 94, liability.management@bnpparibas.com) and Societe Generale (+33 1 42 13 32 40, liability.management@sgcib.com).

The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880, merck@lucid-is.com).

Merck is a science and technology company with headquarters in Darmstadt, Germany.

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