Amgen offers fixed-rate notes in five parts to fund notes redemption

By Devika Patel

Knoxville, Tenn., Feb. 18 – Amgen Inc. is preparing to sell a five-part offering of fixed-rate senior notes, according to a 424B3 filing with the Securities and Exchange Commission.

The notes are due 2025, 2027, 2030, 2040 and 2050.

The notes feature a make-whole call until one month prior to maturity for the 2025 notes, two months prior to maturity for the 2027 notes, three months prior to maturity for the 2030 notes, six months prior to maturity for the 2040 notes and six months prior to maturity for the 2050 notes and par calls after those dates.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Barclays and Morgan Stanley & Co. LLC are the joint bookrunners.

Proceeds will be used to redeem in full the company’s $900 million 3.45% senior notes due Oct. 1, 2020, its $1 billion 4.1% senior notes due June 15, 2021 and its $750 million 1.85% senior notes due Aug. 19, 2021 and to redeem some of its $1.75 billion 3.875% senior notes due Nov. 15, 2021.

Amgen is a Thousand Oaks, Calif., manufacturer and marketer of human therapeutics based upon advances in cellular and molecular biology.

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