AstraZeneca launches and prices a EUR750 million debut eurobond

AstraZenecaAstraZeneca PLC, rated A1 (stable) by Moody's and AA- (stable) by Standard & Poor's, priced a successful debut eurobond transaction (the "Bonds") issuing a total of EUR750 million. The proceeds of the issue will be used for general corporate purposes and to repay a portion of the outstanding US commercial paper taken on in connection with the acquisition of MedImmune.

The transaction is issued off a new Euro Medium Term Note (EMTN) programme, dated September 10th 2007, and is a EUR750 million, fixed rate issue with a coupon of 5.125% maturing in January 2015.

"This transaction represents a further part of our refinancing of the acquisition of MedImmune Inc, following our successful $6.9bn, 4-tranche SEC Global issue last week. As with last week's issue, this transaction represents an enhancement of our financial flexibility by diversifying further our sources of funding. We undertook an extensive roadshow of investor meetings in London, Paris and Frankfurt and are very pleased with the feedback on the AstraZeneca credit, and the reception for us in the bond markets", said David Brennan, Chief Executive Officer of AstraZeneca.

The Bonds will be issued to institutional investors outside the US in accordance with Regulation S of the U.S. Securities Act 1933. The Bonds will be admitted to listing on the UKLA's Official List and to trading on the London Stock Exchange's Fixed Income and Gilt Edged Market.

About AstraZeneca
AstraZeneca is a major international healthcare business engaged in the research, development, manufacture and marketing of prescription pharmaceuticals and the supply of healthcare services. It is one of the world's leading bio-pharmaceutical companies with healthcare sales of $26.47 billion and leading positions in sales of gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infection products. AstraZeneca is listed in the Dow Jones Sustainability Index (Global) as well as the FTSE4Good Index. For more information, visit www.astrazeneca.com.

Most Popular Now

AstraZeneca amends collaboration with Ironwood for…

AstraZeneca has amended its collaboration agreement with Ironwood Pharmaceuticals, Inc. (Ironwood) in China mainland, China Hong Kong and China Macau for Linzess (linaclo...

Cause of antibiotic resistance identified

Scientists have confirmed for the first time that bacteria can change form to avoid being detected by antibiotics in the human body. Studying samples from elderly patient...

Bayer, Brigham and Women’s Hospital, and Massachus…

Bayer and Partners HealthCare's founding members Brigham and Women's Hospital (BWH) and Massachusetts General Hospital (MGH) today announced the launch of a joint lab to ...

FDA grants Fast Track designation for Farxiga in h…

AstraZeneca announced that the US Food and Drug Administration (FDA) has granted Fast Track designation for the development of Farxiga (dapagliflozin) to reduce the risk ...

Amgen announces positive results from two Phase 3 …

Amgen (NASDAQ:AMGN) today announced that the results of a prespecified interim analysis of an open-label, randomized, controlled global multicenter Phase 3 trial (2012021...

Brilinta monotherapy in high-bleeding risk patient…

New data from TWILIGHT, a Phase IV independent trial (funded by AstraZeneca), showed that in patients at high-bleeding risk who underwent PCI and completed 3 months of du...

AstraZeneca divests rights for Losec to Cheplaphar…

AstraZeneca has agreed to sell the global commercial rights, excluding China, Japan, the US and Mexico, for Losec (omeprazole) and associated brands to Cheplapharm Arznei...

Educational campaign helps teens and their caregiv…

Teenagers face many challenges, and growing up with a chronic skin disease called atopic dermatitis (AD) can impact the ups and downs and transitions to young adulthood. ...

Gene-targeted cancer drugs, slow release overcome …

Biomedical engineers at Duke University have developed a method to address failures in a promising anti-cancer drug, bringing together tools from genome engineering, prot...

Ian Read to retire as Executive Chairman of Pfizer…

Following its regularly scheduled meeting, the Board of Directors of Pfizer Inc. (NYSE:PFE) today announced that Executive Chairman of the Board Ian C. Read has chosen to...

Novartis and Microsoft announce collaboration to t…

Novartis announced an important step in reimagining medicine by founding the Novartis AI innovation lab and by selecting Microsoft as its strategic AI and data-science pa...

Study points to new drug target in fight against c…

Researchers have identified a potential new drug target in the fight against cancer. In a study this week in the Proceedings of the National Academy of Sciences, an inter...