22 February 2024 07:00 GMT
AstraZeneca prices a $5bn bond offering
AstraZeneca PLC (“AstraZeneca”) announces that its wholly owned subsidiary AstraZeneca Finance LLC, priced a four tranche global bond offering totalling $5bn on 21 February 2024. The offering is expected to close on 26 February 2024, subject to customary closing conditions. The transaction, which is a global offering registered with the US Securities and Exchange Commission (“SEC”), consists of the following four tranches:
Notes issued by AstraZeneca Finance LLC and fully and unconditionally guaranteed by AstraZeneca
· $1.25bn of fixed rate notes with a coupon of 4.80%, maturing 26 February 2027;
· $1.25bn of fixed rate notes with a coupon of 4.85%, maturing 26 February 2029;
· $1.00bn of fixed rate notes with a coupon of 4.90%, maturing 26 February 2031; and
· $1.50bn of fixed rate notes with a coupon of 5.00%, maturing 26 February 2034.
AstraZeneca expects to use the net proceeds of the offering for general corporate purposes, which may include the refinancing of existing indebtedness.
Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC acted as joint book-running managers on the transaction. In addition, and in line with our commitment to Inclusion & Diversity, four inclusive and diverse firms acted as underwriters on the transaction: Blaylock Van, LLC, Cabrera Capital Markets LLC, C.L. King & Associates, Inc. and Stern Brothers & Co.
The notes will be issued under AstraZeneca’s effective shelf registration statement on Form F-3, which AstraZeneca and AstraZeneca Finance LLC filed with the SEC on 24 May 2021. The offering is being made solely by means of the prospectus contained within that shelf registration statement, along with a prospectus supplement forming part of the effective registration statement, which investors should read.
A copy of the prospectus supplement and accompanying prospectus relating to the offering can be obtained by contacting Barclays Capital Inc. by telephone at +1-888-603-5847; Citigroup Global Markets Inc. by telephone at +1-800-831-9146; Deutsche Bank Securities Inc. toll-free at +1-800-503-4611; or J.P. Morgan Securities LLC collect at +1-212-834-4533. Readers may also download these documents for free by visiting the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system on the SEC website at www.sec.gov.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
The bond issuance does not impact AstraZeneca’s financial guidance for 2024.