Pfizer to raise $10.6B to finance Wyeth buy
Global drug behemoth Pfizer is to raise $10.6 billion from the only sale of euros in bonds since 2007 and its first-ever sale in pounds sterling, in order to help finance its $68.0-billion acquisition of fellow USA-based firm Wyeth (Marketletters passim).
The company is selling 1.85 billion euros ($2.59 billion) in four-year bonds, 2.0 billion euros in seven-year notes, a further 2.0 billion euros in 12-year debt and GBP1.5 billion ($2.38 billion) worth due in 2038, according to a source quoted by the Bloomberg news service.
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