By Andrea Heisinger
New York, March 9 - Amgen Inc. offered $1 billion of senior unsecured notes (A3/A+/A) in two tranches on Tuesday, a market source said.
A $300 million tranche of 4.5% 10-year notes sold at 99.952 to yield 4.506%, or 80 basis points over Treasuries. This was at the tight end of talk in the 85 bps area, a source close to the sale said.
The notes have a make-whole call of Treasuries plus 15 bps.
The $700 million of 5.75% 30-year notes priced at 99.475 to yield 5.787%, or Treasuries plus 112.5 bps. This was in line with talk in the 112.5 bps area.
The tranche has a make-whole call at Treasuries plus 20 bps.
Both tranches feature a change-of-control put of 101%.
Bank of America Merrill Lynch, Barclays Capital Inc. and Morgan Stanley & Co. Inc. ran the books.
Proceeds are going to general corporate purposes.
The biotechnology company is based in Thousand Oaks, Calif.
| Issuer: | Amgen Inc.
|
| Issue: | Senior unsecured notes
|
| Amount: | $1 billion
|
| Bookrunners: | Bank of America Merrill Lynch, Barclays Capital Inc., Morgan Stanley & Co. Inc.
|
| Change-of-control put: | 101%
|
| Trade date: | March 9
|
| Settlement date: | March 12
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A+
|
| Fitch: A
|
|
|
| 10-year notes
|
| Amount: | $300 million
|
| Maturity: | March 15, 2020
|
| Coupon: | 4.5%
|
| Price: | 99.952
|
| Yield: | 4.506%
|
| Spread: | Treasuries plus 80 bps
|
| Call: | Make-whole at Treasuries plus 15 bps
|
| Price talk: | 85 bps area
|
|
|
| 30-year notes
|
| Amount: | $700 million
|
| Maturity: | March 15, 2040
|
| Coupon: | 5.75%
|
| Price: | 99.475
|
| Yield: | 5.787%
|
| Spread: | Treasuries plus 112.5 bps
|
| Call: | Make-whole at Treasuries plus 20 bps
|
| Price talk: | 112.5 bps area
|
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