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Zoetis prices USD1.5bn senior notes issue.

M2 EQUITYBITES-August 14, 2018-Zoetis prices USD1.5bn senior notes issue

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Animal health company Zoetis Inc (NYSE:ZTS) said on Monday that it has agreed to sell USD1.5bn of senior notes in four tranches in an underwritten public offering.

The company added that the USD1.5bn notes consist of USD300m aggregate principal amount of floating rate senior notes due 2021, USD300m aggregate principal amount of 3.250% senior notes due 2021, USD500m aggregate principal amount of 3.900% senior notes due 2028 as well as USD400m aggregate principal amount of 4.450% senior notes due 2048.

Net proceeds may be used by the company to repay USD500m drawn under the 364-day revolving credit facility and repay USD500m issued under its commercial paper programme, as well as for general corporate purposes.

Barclays Capital Inc, Citigroup Global Markets Inc, JP Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and MUFG Securities Americas Inc are acting as joint book-running managers of the underwriters. The offering is expected to close on 20 August 2018, subject to customary closing conditions.

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Publication:M2 EquityBites (EQB)
Date:Aug 14, 2018
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