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Amgen to repay term loan credit agreement debt via new note offerings
By Tali Rackner
Norfolk, Va., Aug. 10 – Amgen Inc. plans to repay borrowings under its term loan credit agreement with the proceeds from four new senior note offerings, according to a 424B3 filing with the Securities and Exchange Commission.
As of June 30, there were $1,725,000,000 of loans outstanding under the term loan credit agreement.
Initial interest is Libor plus 100 basis points, based on the company’s long-term credit ratings.
Proceeds will also be used to repurchase shares of common stock and for general corporate purposes.
Amgen is a Thousand Oaks, Calif., manufacturer and marketer of human therapeutics based upon advances in cellular and molecular biology.
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