Zoetis to sell fixed-, floating-rate senior notes in four parts

By Devika Patel

Knoxville, Tenn., Aug. 13 – Zoetis Inc. is planning to price a four-part offering of senior notes (Baa1), according to a 424B3 filing with the Securities and Exchange Commission.

The offering includes three tranches of fixed-rate notes and one tranche of floating-rate notes.

All of the fixed-rate notes feature a make-whole call and then a par call. The floaters are non-callable.

Barclays, BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and MUFG are the bookrunners. BNP Paribas Securities Corp., Goldman Sachs & Co., HSBC Securities (USA) Inc. and TD Securities (USA) LLC are the co-managers.

Proceeds will be used to repay $500 million drawn under the company’s 364-day revolving credit facility and $500 million issued under its commercial paper program and for general corporate purposes.

Based in New York, Zoetis makes animal health medicines and vaccines.

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