Zoetis to pay down $1 billion of bank loans via four-part notes issue

By Susanna Moon

Chicago, Aug. 13 – Zoetis Inc. plans to repay $500 million drawn under its 364-day revolving credit facility due July 26, 2019 and $500 million issued under its commercial paper program using proceeds of new notes issued in four tranches.

The commercial paper program was issued with maturities of up to 33 days with interest rates ranging from 2.23% to 2.35%, which were borrowed to fund part of the cash payment for the Abaxis acquisition, according to a 424B3 filing with the Securities and Exchange Commission.

Affiliates of Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Bank of America Merrill Lynch and MUFG Securities Americas Inc. are lenders under the 364-day revolving credit facility.

Barclays, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the dealers under the commercial paper program.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.