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Merck prices $2.5 billion debt offering

24 April 2012 | News | By BioSpectrum Bureau

Merck prices $2.5 billion debt offering

Singapore: Merck & Co., has priced $2.5 billion public offering of senior unsecured notes. The notes include $1.0 billion of 1.100% notes due 2018, $1.0 billion of 2.400% notes due 2022, $500.0 million of 3.600% notes due 2042.

Proceeds from the notes will be used for general corporate purposes, including without limitation making contributions to our pension plans and repayment of outstanding commercial paper borrowings and upcoming debt maturities. The offering is expected to close on Sept. 13, 2012, subject to customary closing conditions. Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers for the offering.

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