Novartis launches 1.5B-euro notes issue

Swiss drug major Novartis has successfully launched a notes issue of 1.5 billion euros ($2.1 billion) with a coupon of 4.25% under its 15.0  billion-euro medium term note program. Proceeds will be used for general  corporate purposes. The seven-year note was priced at 99.757% and has a  maturity date of June 15, 2016. The firm says this offering was met with  considerable interest, reflected by the fact it was oversubscribed more  than four times and was placed to a diversified and international  investor base.