S&P rates Celgene notes BBB+

S&P said it assigned its BBB+ issue-level rating to Celgene Corp.'s proposed senior unsecured notes to be issued in tranches maturing in 2023, 2027 and 2047.

The company will use the proceeds from the notes for general corporate purposes, including repayment of its 2.125% and 2.3% senior notes due August 2018.

“Celgene issues all of its debt, and there is no meaningful subordination risk,” the agency said in a news release.

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