S&P rates Sandoz notes BBB

S&P said it assigned its BBB issue rating to the €2 billion senior unsecured bonds issued by Sandoz Finance BV and guaranteed by Sandoz Group AG. The issuance is a triple-tranche transaction with maturities due 2027, 2030 and 2033, respectively.

The rating is the same as S&P’s ratings on Sandoz’s outstanding senior unsecured loans and notes.

The proceeds will be used to refinance the bridge loan facility and for general corporate purposes.

The outlook is stable.

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