Pfizer completes $13.5M debt offering

29 March 2009

Global pharmaceutical behemoth Pfizer has announced the successful completion of its offering of $13.5 billion of senior unsecured notes.

The notes consist of: $1.25 billion of floating rate notes due 2011;  $3.50 billion of 4.45% notes due 2012 ; $3.00 billion of 5.35% notes due  2015; $3.25 billion of 6.20% notes due 2019; and $2.50 billion of 7.20%  notes due 2039.

The company intends to use the net offering proceeds for general  corporate purposes, including funding a portion of the purchase price of  the proposed Wyeth acquisition (Marketletters passim) and the  refinancing of existing debt. Pfizer may also temporarily invest funds  that are not immediately needed for these purposes in short-term  marketable securities, the firm noted.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK



Company News Directory



Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight