By Andrea Heisinger
New York, Sept. 11 - AstraZeneca plc was in the market with a $2 billion offering of notes (A1/AA-/) sold in two tranches on Tuesday, a source close to the offering said.
A $1 billion tranche of 1.95% seven-year notes was priced at a spread of Treasuries plus 85 basis points. The notes were sold tighter than guidance in the 95 bps area.
The $1 billion of 4% 30-year bonds sold at a spread of Treasuries plus 120 bps. The tranche was priced in line with talk in the 120 bps area.
Full terms of the deal were not available at press time.
Goldman Sachs & Co., HSBC Securities (USA) LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.
Proceeds will be used to repay outstanding debt and for general corporate purposes.
AstraZeneca was last in the market with a $6.9 billion offering in four tranches on Sept. 5, 2007. That sale included a 6.45% 30-year bond priced at 170 bps over Treasuries.
The biopharmaceutical company is based in London.
| Issuer: | AstraZeneca plc
|
| Issue: | Notes
|
| Amount: | $2 billion
|
| Bookrunners: | Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC
|
| Trade date: | Sept. 11
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
|
|
| Seven-year notes
|
| Amount: | $1 billion
|
| Maturity: | September 2019
|
| Coupon: | 1.95%
|
| Spread: | Treasuries plus 85 bps
|
| Price talk: | 95 bps area
|
|
|
| 30-year bonds
|
| Amount: | $1 billion
|
| Maturity: | September 2042
|
| Coupon: | 4%
|
| Spread: | Treasuries plus 120 bps
|
| Price talk: | 120 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.
