Bristol-Myers Squibb Company (NYSE:BMY) announced today the
expiration, as of 5:00 p.m., New York City time, on June 20, 2017,
of its previously announced cash tender offer for any and all of
certain of its outstanding debt securities.
Approximately $337.0 million in aggregate principal amount of
the notes subject to the tender offer were validly tendered and not
validly withdrawn on or prior to 5:00 p.m., New York City time, on
June 20, 2017, and an additional $106,000 in aggregate principal
amount of the notes had been submitted pursuant to a Notice of
Guaranteed Delivery and remain subject to delivery of the
underlying notes, as further described below.
The table below summarizes the results of the tender offer.
Title of Security
CUSIP No.
Principal Amount
Tendered(1)
5.875% Notes dueNovember 15, 2036
110122AP3 $116,681,000
6.125% Notes dueMay 1, 2038
110122AQ1 $47,185,000
6.875% Debentures dueAugust 1, 2097
110122AC2 $173,146,000
(1) Not including $106,000 in aggregate principal amount of
notes that had been submitted pursuant to a Notice of Guaranteed
Delivery, for which the delivery of notes must be made by no later
than 5:00 p.m., New York City time, on June 22, 2017.
Bristol-Myers Squibb expects to accept for purchase all of the
notes validly tendered and not validly withdrawn at or prior to the
Expiration Date and expects to make payment for such notes on June
23, 2017 (the “Settlement Date”). Holders of notes subject to the
tender offer who validly tendered and did not validly withdraw
their notes on or prior to the expiration date will receive the
consideration for notes plus accrued and unpaid interest on the
principal amount of such notes up to, but not including, the
Settlement Date.
Payment for the notes tendered and accepted for payment pursuant
to a Notice of Guaranteed Delivery is also expected to occur on the
Settlement Date, subject to, and after, receipt by the tender agent
of a properly completed and duly executed Letter of Transmittal and
all other required documents no later than the close of business on
the second business day after the Expiration Date (which will be
5:00 p.m., New York City time, on June 22, 2017).
The tender offer was conducted upon the terms and subject to the
conditions set forth in the Offer to Purchase, dated June 14, 2017,
and the related Letter of Transmittal and Notice of Guaranteed
Delivery.
Deutsche Bank Securities Inc. is serving as dealer manager for
the tender offer, and D.F. King & Co., Inc. is serving as
tender agent and information agent for the tender offer.
This press release is not a tender offer to purchase or a
solicitation of acceptance of a tender offer, which was made only
pursuant to the terms of the Offer to Purchase. In any jurisdiction
where the laws require the tender offer to be made by a licensed
broker or dealer, the tender offer was deemed made on behalf of
Bristol-Myers Squibb by Deutsche Bank Securities Inc., or one or
more registered brokers or dealers under the laws of such
jurisdiction.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose
mission is to discover, develop and deliver innovative medicines
that help patients prevail over serious diseases. For more
information about Bristol-Myers Squibb, visit us
at BMS.com or follow us on LinkedIn, Twitter,
YouTube and Facebook.
Forward Looking Statements
This press release contains certain “forward-looking” statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended (the “Securities Act”) and Section 21E of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”). You can
identify these forward-looking statements by the fact they use
words such as “should,” “expect,” “anticipate,” “estimate,”
“target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe”
and others words and terms of similar meaning and expression in
connection with any discussion of future operating or financial
performance. You can also identify forward-looking statements by
the fact that they do not relate strictly to historical or current
facts. Such forward-looking statements are based on current
expectations and involve inherent risks and uncertainties,
including factors that could delay, divert or change any of them,
and could cause actual outcomes to differ materially from current
expectations. These statements are likely to relate to, among other
things, the Company’s goals, plans and projections regarding its
financial position, results of operations, cash flows, market
position, product development, product approvals, sales efforts,
expenses, performance or results of current and anticipated
products and the outcome of contingencies such as legal
proceedings, and financial results, which are based on current
expectations that involve inherent risks and uncertainties,
including internal or external factors that could delay, divert or
change any of them in the next several years. Such events and
factors include, but are not limited to, those listed under “Risk
Factors” in the Company’s annual report on Form 10-K for the year
ended December 31, 2016, that the Company believes could cause
actual results to differ materially from any forward-looking
statement. Bristol-Myers Squibb undertakes no obligation to
publicly update any forward-looking statement, whether as a result
of new information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20170621005349/en/
Bristol-Myers Squibb CompanyMedia:Ken Dominski,
609-252-5251ken.dominski@bms.comorLaura Hortas,
609-252-4587laura.hortas@bms.comorInvestors:Tim Power,
609-252-7509timothy.power@bms.comorBill Szablewski,
609-252-5894william.szablewski@bms.com
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