GlaxoSmithKline readies guaranteed note sale in three-, 10-, 30-year maturities for Wednesday

By Andrea Heisinger

New York, March 13 - GlaxoSmithKline Capital Inc. is expected to price senior notes (A1/A+/) in three maturities on Wednesday, according to a market source and a 424B2 filing with the Securities and Exchange Commission.

The offering will include tranches due in March of 2016, 2023 and 2043.

Bookrunners are Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and UBS Securities LLC.

Proceeds will be used for general corporate purposes, including refinancing existing debt.

The notes are guaranteed by Brentford, England-based GlaxoSmithKline plc.

Glaxo last tapped the U.S. bond market with a $5 billion offering in three parts on May 2, 2012. That trade included a 0.75% three-year note sold at Treasuries plus 45 basis points and a 2.85% 10-year note priced at 100 bps over Treasuries.

The global health care company for pharmaceuticals and consumer health products has its U.S. headquarters in Wilmington, Del.

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