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Novartis Capital plans sale of three-year, five-year, 10-year notes
By Devika Patel
Knoxville, Tenn., Feb. 14 – Novartis Capital Corp. intends to offer notes in three tranches, according to a 424B5 filing with the Securities and Exchange Commission.
The notes are guaranteed by Novartis AG.
The notes will be sold in three fixed-rate tranches due in 2020, 2022 and 2027.
The notes will feature make-whole calls and par calls.
BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the bookrunners.
Proceeds will be used for general corporate purposes, including debt refinancing and stock repurchases.
The holding company for pharmaceuticals and health care subsidiaries is based in New York.
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