By Cristal Cody
Tupelo, Miss., May 8 – Amgen Inc. priced a $3.5 billion five-part offering of senior notes (Baa1/A) on Monday, according to a market source.
The company sold $300 million of two-year floating-rate notes at Libor plus 32 basis points.
Amgen priced a $700 million offering of 1.9% two-year fixed-rate notes at a spread of 60 bps over Treasuries.
Amgen placed a $300 million tranche of three-year floating-rate notes at Libor plus 45 bps.
The company also priced $700 million three-year fixed-rate notes with a 2.2% coupon and a Treasuries plus 70 bps spread.
In the final tranche, Amgen sold $1.5 billion of 2.65% five-year fixed-rate notes at a spread of 80 bps over Treasuries.
BofA Merrill Lynch, Goldman Sachs & Co., Barclays and Mizuho Securities USA Inc. were the bookrunners.
The floaters are non-callable, while the 2019 and 2020 fixed-rate notes will have make-whole calls and the 2022 fixed-rate notes feature a make-whole call until a month prior to maturity and then a par call, according to a 424B3 filing with the Securities and Exchange Commission.
Proceeds from the deal will be used for general corporate purposes.
Amgen is a Thousand Oaks, Calif., manufacturer and marketer of human therapeutics based upon advances in cellular and molecular biology.
| Issuer: | Amgen Inc.
|
| Amount: | $3.5 billion
|
| Description: | Senior notes
|
| Bookrunners: | BofA Merrill Lynch, Goldman Sachs & Co., Barclays and Mizuho Securities USA Inc.
|
| Trade date: | May 8
|
| Ratings: | Moody’s: Baa1
|
| S&P: A
|
| Distribution: | SEC registered
|
|
|
| Two-year floaters
|
| Amount: | $300 million
|
| Maturity: | May 10, 2019
|
| Coupon: | Libor plus 32 bps
|
|
|
| Two-year notes
|
| Amount: | $700 million
|
| Maturity: | May 10, 2019
|
| Coupon: | 1.9%
|
| Spread: | Treasuries plus 60 bps
|
|
|
| Three-year floaters
|
| Amount: | $300 million
|
| Maturity: | May 11, 2020
|
| Coupon: | Libor plus 45 bps
|
|
|
| Three-year notes
|
| Amount: | $700 million
|
| Maturity: | May 11, 2020
|
| Coupon: | 2.2%
|
| Spread: | Treasuries plus 70 bps
|
|
|
| Five-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | May 11, 2022
|
| Coupon: | 2.65%
|
| Spread: | Treasuries plus 80 bps
|
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