By Andrea Heisinger
New York, June 15 - Genzyme Corp. priced $1 billion of senior unsecured notes (Baa2/A-/) late on Monday split evenly between two tranches, according to a press release on Tuesday.
The $500 million of 3.625% five-year notes were sold at 99.684 to yield 165 basis points over Treasuries.
A $500 million tranche of 5% 10-year notes priced at 99.186 with a spread of Treasuries plus 185 bps.
The notes were priced under Rule 144A and Regulation S.
Credit Suisse Securities Inc. and Goldman Sachs & Co. were the bookrunners.
Proceeds are going to the company's share repurchase plan and for general corporate purposes.
The biotechnology company is based in Cambridge, Mass.
| Issuer: | Genzyme Corp.
|
| Issue: | Senior unsecured notes
|
| Amount: | $1 billion
|
| Bookrunners: | Credit Suisse Securities Inc., Goldman Sachs & Co.
|
| Distribution: | Rule 144A/Regulation S
|
| Trade date: | June 14
|
| Settlement date: | June 17
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: A-
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | 2015
|
| Coupon: | 3.625%
|
| Price: | 99.684
|
| Spread: | Treasuries plus 165 bps
|
|
|
| 10-year notes
|
| Amount: | $500 million
|
| Maturity: | 2020
|
| Coupon: | 5%
|
| Price: | 99.186
|
| Spread: | Treasuries plus 185 bps
|
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