By Andrea Heisinger
New York, Sept. 12 - AstraZeneca plc gave the terms of its $2 billion sale of notes (A1/AA-/) sold in two tranches in an FWP filing with the Securities and Exchange Commission on Wednesday.
A $1 billion tranche of 1.95% seven-year notes was priced at 99.876 to yield 1.969% with a spread of Treasuries plus 85 basis points. The notes were sold tighter than guidance in the 95 bps area.
The notes carry a make-whole call at 15 bps over Treasuries.
The $1 billion of 4% 30-year bonds sold at 99.377 to yield 4.036% with a spread of Treasuries plus 120 bps. The tranche was priced in line with talk in the 120 bps area.
The bonds are callable at a make-whole amount of 20 bps over Treasuries.
Goldman Sachs & Co., HSBC Securities (USA) LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.
Proceeds will be used to repay outstanding debt and for general corporate purposes.
AstraZeneca was last in the market with a $6.9 billion offering in four tranches on Sept. 5, 2007. That sale included a 6.45% 30-year bond priced at 170 bps over Treasuries.
The biopharmaceutical company is based in London.
| Issuer: | AstraZeneca plc
|
| Issue: | Notes
|
| Amount: | $2 billion
|
| Bookrunners: | Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC
|
| Trade date: | Sept. 11
|
| Settlement date: | Sept. 18
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
|
|
| Seven-year notes
|
| Amount: | $1 billion
|
| Maturity: | Sept. 18, 2019
|
| Coupon: | 1.95%
|
| Price: | 99.876
|
| Yield: | 1.969%
|
| Spread: | Treasuries plus 85 bps
|
| Call: | Make-whole at Treasuries plus 15 bps
|
| Price talk: | 95 bps area
|
|
|
| 30-year bonds
|
| Amount: | $1 billion
|
| Maturity: | Sept. 18, 2042
|
| Coupon: | 4%
|
| Price: | 99.377
|
| Yield: | 4.036%
|
| Spread: | Treasuries plus 120 bps
|
| Call: | Make-whole at Treasuries plus 20 bps
|
| Price talk: | 120 bps area
|
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