By Aleesia Forni
Virginia Beach, Nov. 13 – Roche Holding AG priced $1 billion of senior notes (A1/AA/) in two parts on Thursday, a market source said.
The sale included a $350 million tap of the company’s existing 3.35% notes due Sept. 30, 2024 priced at 101.503 to yield 3.167%, or Treasuries plus 82 basis points.
Pricing was at the tight end of price talk.
The original $1.3 billion issue sold at Treasuries plus 82 bps on Sept. 22.
There was also $650 million of 4% 30-year bonds priced at 98.436 to yield 4.091%, or Treasuries plus 102 bps.
The notes sold at the tight end of talk.
Proceeds will be used for general corporate purposes.
The bookrunners were Barclays, J.P. Morgan Securities LLC and RBS Securities Inc.
Roche is a Basel, Switzerland-based drug maker.
| Issuer: | Roche Holdings AG
|
| Issue: | Senior notes
|
| Amount: | $1 billion
|
| Bookrunners: | Barclays, J.P. Morgan Securities LLC, RBS Securities Inc.
|
| Trade date: | Nov. 13
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: AA
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Tap of notes due 2024
|
| Amount: | $350 million
|
| Maturity: | Sept. 30, 2024
|
| Coupon: | 3.35%
|
| Price: | 101.503
|
| Yield: | 3.167%
|
| Spread: | Treasuries plus 82 bps
|
| Price talk: | Treasuries plus 85 bps area
|
| Total amount: | $1.65 billion, including $1.3 billion priced at 82 bps over Treasuries on Sept. 22
|
|
|
| 30-year bonds
|
| Amount: | $650 million
|
| Maturity: | Nov. 28, 2044
|
| Coupon: | 4%
|
| Price: | 98.436
|
| Yield: | 4.091%
|
| Spread: | Treasuries plus 102 bps
|
| Price talk: | Treasuries plus 105 bps area
|
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