By Ronda Fears
Memphis, Feb. 17 - Pfizer, Inc. sold an upsized ¥115 billion of bonds in two parts with a ¥60 billion tranche of five-year 1.2% notes priced at 99.94 to yield 1.2007% and a ¥55 billion tranche of 10-year 1.8% notes priced at 99.56 to yield 1.808%, according to a market source. The deal was boosted from ¥50 billion.
In a Securities and Exchange Commission filing, Pfizer said proceeds from the bond sale would be used for general corporate purposes.
A week ago, Pfizer 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.
| Issuer: | Pfizer, Inc.
|
| Issue: | Global bonds
|
| Amount: | ¥115 billion, upped from ¥50 billion
|
| Pricing date: | Feb. 16
|
| Settlement date: | Feb. 22
|
|
|
| Tranche A
|
| Amount: | ¥55 billion
|
| Bookrunners: | Mitsubishi UFJ Securities International plc and Goldman Sachs International
|
| Maturity: | Feb. 22, 2016
|
| Coupon: | 1.8%
|
| Price: | 99.56
|
| Yield: | 1.808%
|
| Spread: | 30 bps over comparable Japanese government bond
|
| Price talk: | 32 bps over comparable Japanese government bond
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
|
|
| Tranche B
|
| Amount: | ¥60 billion
|
| Bookrunners: | Mitsubishi UFJ Securities International plc and Nikko Citigroup
|
| Maturity: | Feb. 22, 2011
|
| Coupon: | 1.2%
|
| Price: | 99.94
|
| Yield: | 1.2007%
|
| Spread: | 22 bps over comparable Japanese government bond
|
| Price talk: | 22 bps over comparable Japanese government bond
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
|
|
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