By Aleesia Forni
Virginia Beach, May 19 - Amgen Inc. was in Monday's market with a $4.5 billion offering of senior notes (Baa1/A/BBB) in five tranches, according to a market source.
The sale included $600 million three-year floaters priced at par to yield Libor plus 38 bps.
An $850 million tranche of 1.25% three-year notes priced at 50 bps over Treasuries, or 99.891 to yield 1.287%.
There was also $250 million of five-year floaters sold at par to yield Libor plus 60 bps.
A $1.4 billion tranche of 2.2% notes due 2019 sold at Treasuries plus 70 bps. The notes sold at 99.807 to yield 2.241%.
Finally, $1.4 billion of 3.625% 10-year notes sold at 110 bps over Treasuries, or 99.834 to yield 3.645%.
Morgan Stanley & Co. LLC was the global coordinator for all five tranches of notes.
Barclays and Goldman Sachs & Co. were the joint bookrunners for the three- and 10-year tranches, while Citigroup Global Markets Inc. and J.P. Morgan Securities LLC were the bookrunners for the notes due 2019.
Proceeds will be used to either repurchase all of subsidiary ATL Holdings Ltd.'s class A preferred shares or to repay the company's term loan credit agreement. Remaining proceeds will be used to repay debt and for general corporate purposes.
The manufacturer and marketer of human therapeutics based upon advances in cellular and molecular biology is based in Thousand Oaks, Calif.
| Issuer: | Amgen Inc.
|
| Issue: | Senior notes
|
| Amount: | $4.5 billion
|
| Global coordinator: | Morgan Stanley & Co. LLC
|
| Trade date: | May 19
|
| Settlement date: | May 22
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A
|
| Fitch: BBB
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $600 million
|
| Maturity: | May 22, 2017
|
| Joint bookrunners: | Barclays, Goldman Sachs & Co.
|
| Coupon: | Libor plus 38 bps
|
| Price: | Par
|
| Yield: | Libor plus 38 bps
|
| Price talk: | Libor plus high-30 bps area
|
|
|
| Three-year notes
|
| Amount: | $850 million
|
| Maturity: | May 22, 2017
|
| Joint bookrunners: | Barclays, Goldman Sachs & Co.
|
| Coupon: | 1.25%
|
| Price: | 99.891
|
| Yield: | 1.287%
|
| Spread: | Treasuries plus 50 bps
|
| Price talk: | Treasuries plus 50 bps area
|
|
|
| Five-year floaters
|
| Amount: | $250 million
|
| Maturity: | May 22, 2019
|
| Joint bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC
|
| Coupon: | Libor plus 60 bps
|
| Price: | Par
|
| Yield: | Libor plus 60 bps
|
| Price talk: | Libor plus 60 bps area
|
|
|
| Five-year notes
|
| Amount: | $1.4 billion
|
| Maturity: | May 22, 2019
|
| Joint bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC
|
| Coupon: | 2.2%
|
| Price: | 99.807
|
| Yield: | 2.241%
|
| Spread: | Treasuries plus 70 bps
|
| Price talk: | Treasuries plus 70 bps area
|
|
|
| 10-year notes
|
| Amount: | $1.4 billion
|
| Maturity: | May 22, 2024
|
| Joint bookrunners: | Barclays, Goldman Sachs & Co.
|
| Coupon: | 3.625%
|
| Price: | 99.834
|
| Yield: | 3.645%
|
| Spread: | Treasuries plus 110 bps
|
| Price talk: | Treasuries plus 110 bps area
|
|
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