AstraZeneca prices $3bn, three-tranche bond offering
By Josh White
Date: Tuesday 04 Aug 2020
(Sharecast News) - AstraZeneca has priced a three-tranche global bond offering totalling $3bn (£2.3bn), it announced on Tuesday, to possibly repay its current debt.
The FTSE 100 pharmaceuticals giant said the offering was expected to close on 6 August, subject to customary closing conditions.
It said it would use the net proceeds of the issue for general corporate purposes, which could include the refinancing of existing indebtedness.
The transaction would consist of a first tranche of $1.2bn of fixed rate notes with a coupon of 0.700%, maturing 8 April 2026, a second tranche of $1.3bn of fixed rate notes with a coupon of 1.375%, maturing 6 August 2030, and a third tranche of $0.5bn of fixed rate notes with a coupon of 2.125%, maturing 6 August 2050.
"The bond issuance does not impact the company's financial guidance for 2020," AstraZeneca said in its statement.
At 1109 BST, shares in AstraZeneca were down 1.9% at 8,600.4p.
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