Amgen to price $1.5 billion in 10-, 30-year senior unsecured notes

By Sheri Kasprzak

New York, Sept. 13 - Amgen, Inc. is expected to bring to market $1.5 billion in senior unsecured notes, according to a preliminary prospectus supplement filed Monday with the Securities and Exchange Commission.

The notes (A3/A+/A) will be sold in two tranches, including a $900 million 10-year tranche expected to yield 77 basis points over comparable Treasuries and a $600 million 30-year tranche expected to yield 117 bps over comparable Treasuries.

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

The notes will include a change-of-control put at 101%.

Proceeds from the sale will be used for general corporate purposes, including debt repayment.

Based in Thousand Oaks, Calif., Amgen is a biotechnology company that develops pharmaceuticals to treat arthritis, anemia, colon cancer and other ailments.

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