By Andrea Heisinger
New York, Jan. 13 - Amgen Inc. priced $2 billion of senior notes (A3/A+/A) in two tranches Tuesday, according to a market source.
Full terms were not available by Prospect News' press time.
The $1 billion of 10-year notes priced to yield Treasuries plus 345 basis points.
The $1 billion of 30-year notes also priced to yield Treasuries plus 345 bps.
Both tranches came at the tight end of price talk, which was in the 350 bps area, a source said.
The notes feature a change-of-control put of 101%.
Bookrunners were Goldman Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith and Morgan Stanley & Co. Inc.
Proceeds will be used for general corporate purposes, including working capital, capital expenditures, debt service requirements and repayment of debt, repurchase of common stock shares, and other business activities, including acquisitions and licensing.
The global biotechnology company is based in Thousand Oaks, Calif.
| Issuer: | Amgen Inc.
|
| Issue: | Senior notes
|
| Total amount: | $2 billion
|
| Bookrunners: | Goldman Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith, Morgan Stanley & Co. Inc.
|
| Trade date: | Jan. 13
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A+
|
| Fitch: A
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | 2019
|
| Spread: | Treasuries plus 345 bps
|
| Change-of-control put: | 101%
|
| Price talk: | 350 bps area
|
|
|
| 30-year notes
|
| Amount: | $1 billion
|
| Maturity: | 2039
|
| Spread: | Treasuries plus 345 bps
|
| Change-of-control put: | 101%
|
| Price talk: | 350 bps area
|
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