Biogen Idec to offer five-, 10-year notes; pricing likely Wednesday

By Andrea Heisinger

Omaha, Feb. 26 - Biogen Idec Inc. announced an offering of five- and 10-year senior notes on Tuesday, a source close to the deal said.

The notes (Baa3/BBB) will likely price Wednesday, the source said.

Bookrunners are Goldman Sachs & Co. and Merrill Lynch, Pierce, Fenner & Smith Inc.

Proceeds will be used to repay debt under a senior term loan facility in connection with the repurchase of common stock. This is in connection with a tender offer completed on July 2, 2007.

The medical research and products company is based in Cambridge, Mass.

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