By Andrea Heisinger
Omaha, Sept. 5 - AstraZeneca plc priced an upsized $6.9 billion of notes (A1/AA-) in four tranches Wednesday, according to an informed source.
The issue was originally planned as three tranches, a market source said.
A $650 million tranche of two-year floaters priced at Libor plus 30 basis points, at par.
A $1.75 billion tranche of five-year 5.4% notes priced at a spread of Treasuries plus 130 bps with a price of 99.809 and yield of 5.444%.
A $1.75 billion tranche of 10-year 5.9% notes priced at a spread of Treasuries plus 145 bps with a price of 99.932 and yield of 5.909%.
The final tranche was $2.75 billion of 30-year 6.45% notes that priced at a spread of Treasuries plus 170 bps with a price of 99.578 and yield of 6.482%.
All of the tranches priced in line with price talk.
Bookrunners were Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co., HSBC Investment Bank plc and J.P. Morgan Securities Inc.
Proceeds will be used to repay a significant portion of the outstanding commercial paper incurred as part of the company's acquisition of MedImmune Inc.
AstraZeneca is based in London and is a research-based bio-pharmaceutical company.
| Issuer: | AstraZeneca plc
|
| Issue: | Notes
|
| Amount: | $6.9 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co., HSBC Investment Bank PLC, J.P. Morgan Securities Inc. |
|
| Trade date: | Sept. 5
|
| Settlement date: | Sept. 12
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
|
|
|
|
| Two-year tranche
|
| Amount: | $650 million
|
| Issue: | Floating-rate notes
|
| Maturity: | Sept. 11, 2009
|
| Coupon: | Libor plus 30 bps
|
| Price: | Par
|
| Yield: | Libor plus 30 bps
|
|
|
|
|
| Five-year tranche
|
| Amount: | $1.75 billion
|
| Maturity: | Sept. 15, 2012
|
| Coupon: | 5.4%
|
| Price: | 99.809
|
| Yield: | 5.444%
|
| Spread: | Treasuries plus 130 bps
|
| Call: | Make-whole at Treasuries plus 20 bps
|
| Price talk: | 130 bps area
|
|
|
| Ten-year tranche
|
| Amount: | $1.75 billion
|
| Maturity: | Sept. 15, 2017
|
| Coupon: | 5.9%
|
| Price: | 99.932
|
| Yield: | 5.909%
|
| Spread: | Treasuries plus 145 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Price talk: | 145 bps area
|
|
|
| Thirty-year tranche
|
| Amount: | $2.75 billion
|
| Maturity: | Sept. 15, 2037
|
| Coupon: | 6.45%
|
| Price: | 99.578
|
| Yield: | 6.482%
|
| Spread: | Treasuries plus 170 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Price talk: | 170 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
