Gilead Sciences offers floating-, fixed-rate notes in six parts

By Marisa Wong

Los Angeles, Sept. 23 – Gilead Sciences, Inc. plans to price floating-rate notes in two tranches and fixed-rate senior notes in four parts, according to a 424B5 filing with the Securities and Exchange Commission.

Barclays and Wells Fargo Securities, LLC are the joint bookrunners.

Gilead plans to use proceeds from the floating-rate notes and three of the fixed-rate notes, along with proceeds from a new term loan and cash on its balance sheet, to finance its proposed acquisition of Immunomedics, Inc. Proceeds from the remaining tranche of fixed-rate notes will be used to redeem Gilead’s 4.5% senior notes due 2021 and the 4.4% notes due 2021.

The research-based biopharmaceutical company is based in Foster City, Calif.

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