By Cristal Cody
Tupelo, Miss., Sept. 4 – Pfizer Inc. sold $5 billion of senior notes (A1/AA/A+) in six tranches on Tuesday, according to a market source.
Pfizer priced $1 billion of 3% three-year notes at a spread of Treasuries plus 32 basis points.
The company sold $300 million of five-year floating-rate notes at Libor plus 33 bps.
A $1 billion tranche of 3.2% five-year fixed-rate notes priced at a 47 bps over Treasuries spread.
Pfizer priced $1 billion of 3.6% 10-year notes at a spread of 72 bps over Treasuries.
The company sold $700 million of 4.1% 20-year notes at a 105 bps spread over Treasuries.
In the final tranche, Pfizer priced $1 billion of 4.2% 30-year notes at a spread of 115 bps over Treasuries.
BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC were the bookrunners.
Proceeds will be used for general corporate purposes, including to refinance, redeem or repurchase existing debt and to repay a portion of commercial paper.
The biopharmaceutical company is based in New York.
| Issuer: | Pfizer Inc.
|
| Amount: | $5 billion
|
| Description: | Senior notes
|
| Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC
|
| Trade date: | Sept. 4
|
| Ratings: | Moody’s: A1
|
| S&P: AA
|
| Fitch: A+
|
| Distribution: | SEC registered
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | Sept. 15, 2021
|
| Coupon: | 3%
|
| Spread: | Treasuries plus 32 bps
|
|
|
| Five-year floaters
|
| Amount: | $300 million
|
| Maturity: | Sept. 15, 2023
|
| Coupon: | Libor plus 33 bps
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | Sept. 15, 2023
|
| Coupon: | 3.2%
|
| Spread: | Treasuries plus 47 bps
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | Sept. 15, 2028
|
| Coupon: | 3.6%
|
| Spread: | Treasuries plus 72 bps
|
|
|
| 20-year notes
|
| Amount: | $700 million
|
| Maturity: | Sept. 15, 2038
|
| Coupon: | 4.1%
|
| Spread: | Treasuries plus 105 bps
|
|
|
| 30-year notes
|
| Amount: | $1 billion
|
| Maturity: | Sept. 15, 2048
|
| Coupon: | 4.2%
|
| Spread: | Treasuries plus 115 bps
|
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