Roche Holdings wraps tenders for $1.04 billion 5.25% notes, 7% notes

By Susanna Moon

Chicago, Dec. 1 – Roche Holdings, Inc. gave the results of its tender offer for up to $2.2 billion of two note series.

Investors had tendered the following amounts by the end of the offer at 11:59 p.m. ET on Nov. 26, listed in order of priority acceptance level:

• $149,984,000 of Genentech, Inc.’s $500 million of 5.25% senior notes due 2035; and

• $893,925,000 of Roche Holdings, Inc.’s $2.5 billion of 7% notes due 2039, guaranteed by Roche Holding Ltd.

The tendered notes were settled on Nov. 28, according to a company press release.

As of 5 p.m. ET on Nov. 12, the early tender date, investors had tendered the following amounts:

• $149,834,000 of Genentech’s 5.25% notes; and

• $893,925,000 of Roche Holdings’ 7% notes.

The total purchase price for each $1,000 principal amount was $1,196.42 for the 5.25% notes and $1,456.92 for the 7% notes.

Those who tendered after the early deadline will receive the total amount less the early tender premium.

J.P. Morgan Securities LLC (liability management group, at 800 834-4666 or 212 834-4811 collect) was the dealer manager. D.F. King & Co., Inc. (800 761-6521 or 212 269-5550 collect or email roche@dfking.com) was the information agent and tender agent.

Roche is a Basel, Switzerland-based drug maker.

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