By Aleesia Forni
Virginia Beach, Nov. 10 – AstraZeneca plc sold $6 billion of senior notes (A2/A) in five parts during Tuesday’s session, according to an informed source.
The company priced $1 billion of 1.75% three-year notes at 55 basis points over Treasuries.
Also, $400 million of three-year floaters priced at par to yield Libor plus 53 bps.
A $1.6 billion tranche of 2.375% five-year notes priced with a 75 bps spread over Treasuries.
The company also sold $2 billion 3.375% 10-year notes at Treasuries plus 115 bps.
Finally, $1 billion of 4.375% 30-year bonds sold at Treasuries plus 135 bps.
All tranches came at the tight side of price guidance.
Barclays, BofA Merrill Lynch, HSBC Securities (USA) LLC and Morgan Stanley & Co. LLC are running the books.
Proceeds will be used to fund the acquisition of ZS Pharma, to repay commercial paper and for general corporate purposes.
The biopharmaceutical company is based in London.
| Issuer: | AstraZeneca plc
|
| Issue: | Senior notes
|
| Amount: | $6 billion
|
| Bookrunners: | Barclays, BofA Merrill Lynch, HSBC Securities (USA) LLC, Morgan Stanley & Co. LLC
|
| Trade date: | Nov. 10
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
| Distribution: | SEC registered
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | Nov. 16, 2018
|
| Coupon: | 1.75%
|
| Spread: | Treasuries plus 55 bps
|
| Price guidance: | Treasuries plus 60 bps area, tightened from Treasuries plus 65 bps area
|
|
|
| Three-year floaters
|
| Amount: | $400 million
|
| Maturity: | Nov. 16, 2018
|
| Coupon: | Libor plus 53 bps
|
| Price: | Par
|
| Yield: | Libor plus 53 bps
|
| Price guidance: | Libor equivalent to three-year fixed-rate notes
|
|
|
| Five-year notes
|
| Amount: | $1.6 billion
|
| Maturity: | Nov. 16, 2020
|
| Coupon: | 2.375%
|
| Spread: | Treasuries plus 75 bps
|
| Price guidance: | Treasuries plus 80 bps area, tightened from Treasuries plus 85 bps area
|
|
|
| 10-year notes
|
| Amount: | $2 billion
|
| Maturity: | Nov. 16, 2025
|
| Coupon: | 3.375%
|
| Spread: | Treasuries plus 115 bps
|
| Price guidance: | Treasuries plus 120 bps area, tightened from Treasuries plus 125 bps area
|
|
|
| 30-year notes
|
| Amount: | $1 billion
|
| Maturity: | Nov. 16, 2045
|
| Coupon: | 4.375%
|
| Spread: | Treasuries plus 135 bps
|
| Price guidance: | Treasuries plus 140 bps area, tightened from Treasuries plus 150 bps area
|
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