By Sheri Kasprzak
New York, Sept. 13 - Amgen, Inc. priced $1.5 billion of senior unsecured notes in two parts on Monday, according to a term sheet.
The notes (A3/A+/A) were sold in two tranches - a $900 million 10-year tranche and a $600 million 31-year tranche.
The 3.45% 10-year notes priced at 99.629 to yield 3.494%, at the anticipated spread of 77 basis points over Treasuries. There is a make-whole call at 15 basis points over Treasuries.
The 31-year notes also priced where expected. The 4.95% notes priced at 99.182 to yield 5.002% with a spread of 117 bps over Treasuries. There is a make-whole call at 20 bps over Treasuries.
Citigroup Global Markets Inc., Goldman Sachs & Co. and Morgan Stanley & Co. Inc. were the bookrunners for the offering.
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.
| Issuer: | Amgen, Inc.
|
| Issue: | Senior unsecured notes
|
| Amount: | $1.5 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., Morgan Stanley & Co. Inc.
|
| Pricing date: | Sept. 13
|
| Settlement date: | Sept. 16
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A+
|
| Fitch: A
|
|
|
| 10-year notes
|
| Amount: | $900 million
|
| Maturity: | Oct. 1, 2020
|
| Coupon: | 3.45%
|
| Price: | 99.629
|
| Yield: | 3.494%
|
| Spread: | 77 bps over Treasuries
|
| Call: | Make-whole at 15 bps over Treasuries
|
|
|
| 31-year notes
|
| Amount: | $600 million
|
| Maturity: | Oct. 1, 2041
|
| Coupon: | 4.95%
|
| Price: | 99.182
|
| Yield: | 5.002%
|
| Spread: | 117 bps over Treasuries
|
| Call: | Make-whole at 20 bps over Treasuries
|
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