By Andrea Heisinger
Omaha, May 20 - Amgen, Inc. priced $1 billion of senior notes (A3/A+/) on Tuesday in two tranches, an informed source said.
The $500 million of 6.15% 10-year notes priced at 99.828 to yield Treasuries plus 240 basis points. They have a make-whole redemption option of Treasuries plus 40 bps.
The $500 million of 6.9% 30-year notes priced at 99.819 to yield Treasuries plus 240 bps. They have a make-whole redemption option of Treasuries plus 40 bps.
Both tranches had price talk in the 240 bps area, the source said.
The notes feature a change-of-control put of 101%.
Bookrunners were Goldman Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Inc. and Barclays Capital Inc.
Proceeds will be used to redeem some or all outstanding senior floating-rate notes due 2008.
The biotechnology company is based in Thousand Oaks, Calif.
| Issuer: | Amgen, Inc.
|
| Issue: | Senior notes
|
| Amount: | $1 billion
|
| Bookrunners: | Goldman Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Inc., Barclays Capital Inc.
|
| Change-of-control put: | 101%
|
| Trade date: | May 20
|
| Settlement date: | May 23
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A+
|
|
|
| 10-year tranche
|
| Amount: | $500 million
|
| Maturity: | June 1, 2018
|
| Coupon: | 6.15%
|
| Price: | 99.828
|
| Spread: | Treasuries plus 240 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
| Price talk: | 240 bps area
|
|
|
| 30-year tranche
|
| Amount: | $500 million
|
| Maturity: | June 1, 2038
|
| Coupon: | 6.9%
|
| Price: | 99.819
|
| Spread: | Treasuries plus 240 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
| Price talk: | 240 bps area
|
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