GlaxoSmithKline Capital to price fixed- and floating-rate guaranteed notes in four tranches

By Cristal Cody

Tupelo, Miss., March 18 – GlaxoSmithKline Capital plc intends to offer dollar-denominated notes in four tranches, according to a 424B2 filed with the Securities and Exchange Commission on Monday.

The notes will be offered in three fixed-rate tranches and one floating-rate tranche.

The fixed-rate notes may be redeemed with a make-whole call prior to maturity, but the floaters are not callable.

BofA Merrill Lynch, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and HSBC Securities (USA) Inc. are the bookrunners.

Co-managers will be Barclays, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC and Standard Chartered Bank.

The fixed-rate notes will have make-whole and par calls. The floaters are non-callable.

The notes are guaranteed by parent company GlaxoSmithKline plc.

Proceeds from the deal will be used to repay outstanding debt under the company’s acquisition facility incurred to fund its acquisition of Tesaro Inc.

GlaxoSmithKline Capital is a financing arm of the Brentford, England-based global health care company for pharmaceuticals and consumer health products.

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