By Cristal Cody
Tupelo, Miss., June 5 – AstraZeneca plc sold $2 billion of notes (A3/A-) in three tranches on Monday, according to an FWP filing with the Securities and Exchange Commission.
The company priced $250 million of five-year floating-rate notes at par to yield Libor plus 62 basis points.
AstraZeneca sold $1 billion of 2.375% five-year fixed-rate notes at 99.682 to yield 2.443% and a spread of Treasuries plus 70 bps.
In the final tranche, the company priced $750 million of 3.125% 10-year notes at 99.49 to yield 3.185%, or a Treasuries plus 100 bps spread.
The bookrunners were Barclays, HSBC Securities (USA) Inc., BofA Merrill Lynch and Morgan Stanley & Co. LLC.
Proceeds will be used for general corporate purposes, which may include the refinancing of existing debt.
The biopharmaceutical company is based in Cambridge, England.
| Issuer: | AstraZeneca plc
|
| Amount: | $2 billion
|
| Description: | Notes
|
| Bookrunners: | Barclays, HSBC Securities (USA) Inc., BofA Merrill Lynch and Morgan Stanley & Co. LLC
|
| Trade date: | June 5
|
| Settlement date: | June 12
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| Distribution: | SEC registered
|
|
|
| Five-year floaters
|
| Amount: | $250 million
|
| Maturity: | June 12, 2022
|
| Coupon: | Libor plus 62 bps
|
| Price: | Par
|
| Yield: | Libor plus 62 bps
|
| Call feature: | Only in event of various tax law changes and other limited circumstances at par
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | June 12, 2022
|
| Coupon: | 2.375%
|
| Price: | 99.682
|
| Yield: | 2.443%
|
| Spread: | Treasuries plus 70 bps
|
| Call features: | Make-whole call before May 12, 2022 at greater of par and Treasuries plus 1 bp; thereafter at par
|
|
|
| 10-year notes
|
| Amount: | $750 million
|
| Maturity: | June 12, 2027
|
| Coupon: | 3.125%
|
| Price: | 99.49
|
| Yield: | 3.185%
|
| Spread: | Treasuries plus 100 bps
|
| Call features: | Make-whole call before March 12, 2027 at greater of par and Treasuries plus 15 bps; thereafter at par
|
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