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Pfizer to sell ¥50 billion of bonds Thursday via Mitsubishi UFJ, Goldman, Citi
By Ronda Fears
Nashville, Feb. 15 - Pfizer, Inc. plans to issue ¥50 billion of bonds in two tranches with pricing scheduled for Thursday, according to market sources.
Mitsubishi UFJ Securities International plc and Goldman Sachs International are joint bookrunners for a five-year tranche, which is expected to yield in the area of 22 basis points over Japanese government bonds, according to a market source.
Mitsubishi UFJ Securities International and Nikko Citigroup are joint bookrunners for a 10-year tranche, which is expected to yield in the area of 32 basis points over comparable Japanese government bonds, according to a market source.
On Wednesday, the dollar rose modestly to 117.77 against the yen, up 0.23 yen from late Tuesday, The Associated Press reported.
On Tuesday, Bloomberg News reported that the yen climbed against the dollar on continuing speculation Tuesday that faster growth in Japan would move the Bank of Japan closer to ending its policy of keeping interest rates near 0%.
In a Securities and Exchange Commission filing, Pfizer said proceeds from the bond sale would be used for general corporate purposes.
Pfizer Inc. on Friday forecast flat sales in 2006 amid increased competition from generic medicines. The pharmaceutical giant also is exploring various options such as the sale of its over-the-counter pharmaceuticals unit, which is estimated to be worth nearly $4 billion.
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