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Amgen Raises $3B In Debt Issue

Amgen has raised $3 billion in a three-part sale of notes.

Amgen has raised $3 billion in a three-part sale of notes, The Wall Street Journal reports. The $750 million notes, sold in the first tranche, carry a coupon rate of 2.3% and will mature in 2016, while the $1 billion notes, sold in the second part, carry a coupon rate of 4.10% and will mature in 2021.

The third tranche of $1.25 billion notes, which carry a coupon rate of 5.65%, are scheduled to mature in 2042. The California-based company will use the sale proceeds for general corporate purposes, including debt repayment, buying back shares and quarterly dividends. The biotechnology company appointed Barclays Capital, BofA Merrill Lynch and Morgan Stanley to lead the debt sale.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.

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