Zoetis plans to price offering of senior notes in two tranches

By Marisa Wong

Los Angeles, Nov. 8 – Zoetis Inc. plans to price fixed-rate senior notes in two parts, according to a 424B3 filing with the Securities and Exchange Commission.

The notes will feature a make-whole call, followed by a par call.

The notes will also be putable at 101 if a change-of-control triggering event occurs.

Barclays, BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and MUFG Securities Americas Inc. are the joint bookrunners.

Deutsche Bank Trust Co. Americas is the trustee.

Cooley LLP will act as counsel for the issuer. Davis Polk & Wardwell LLP will be counsel for the underwriters.

The company intends to use proceeds from the new notes to repay the principal of its 3.25% senior notes due 2023 totaling $1.35 billion and the remainder, if any, for general corporate purposes.

Zoetis is a Parsippany, N.J.-based pharmaceutical company focused on animal health.

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