AstraZeneca Prices $5bln Four Tranche Notes Offering

(RTTNews) - Pharmaceutical major AstraZeneca PLC (AZN.L), on Thursday announced that its unit AstraZeneca Finance LLC has priced a four-tranche global bond offering totaling $5 billion.

The four tranches consist of $1.25 billion of fixed notes with a coupon of 4.80 percent, maturing 26 February 2027; $1.25 billion of fixed rate notes with a coupon of 4.85 percent, maturing 26 February 2029; $1 billion of fixed rate notes with a coupon of 4.90 percent, maturing 26 February 2031; and $1.50 billion of fixed rate notes with a coupon of 5 percent, maturing 26 February 2034.

AstraZeneca expects to use the net proceeds towards general corporate purposes including refinancing of existing indebtedness.

The offering is expected to close on February 26.

Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are serving as joint book-running managers.

On Wednesday, AstraZeneca shares closed at 10,102 pence, down 1% in London.