Gilead Prices $5 Billion of Senior Unsecured Notes
September 15 2016 - 10:01PM
Business Wire
Gilead Sciences, Inc. (NASDAQ:GILD) today announced the pricing
of senior unsecured notes in an aggregate principal amount of $5
billion, in an underwritten, registered public offering, consisting
of five tranches:
- $500 million of 1.950% senior notes
maturing in 2022
- $750 million of 2.500% senior notes
maturing in 2023
- $1,250 million of 2.950% senior notes
maturing in 2027
- $750 million of 4.000% senior notes
maturing in 2036
- $1,750 million of 4.150% senior notes
maturing in 2047
The senior notes are rated A by Standard & Poor’s and A3 by
Moody’s. The offering is expected to close September 20, 2016,
subject to customary closing conditions.
Gilead intends to use the net proceeds from the offering for
general corporate purposes, which may include the repayment of
debt, working capital, payment of dividends, the repurchase of its
outstanding common stock pursuant to its authorized share
repurchase program and future acquisitions.
Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P.
Morgan Securities LLC are acting as lead joint book-running
managers in the offering. The offering of the securities is being
made only by means of a prospectus supplement and the accompanying
base prospectus, which is filed as part of Gilead’s effective shelf
registration statement on Form S-3 (File No. 333-194298), copies of
which may be obtained from:
Merrill Lynch, Pierce, Fenner & Smith
Incorporated
J.P. Morgan Securities LLC
NCI-004-04-43 383 Madison Ave. 2000 North College Street, 3rd Floor
New York, NY 10179 Charlotte, NC 28255-0001 Attn: Investment Grade
Syndicate Desk Attention: Prospectus Department (212) 834-4533
(800) 294-1322
An electronic copy of the prospectus supplement and the
accompanying base prospectus may also be obtained at no charge at
the Securities and Exchange Commission’s website at http://www.sec.gov/.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
About Gilead Sciences
Gilead Sciences is a biopharmaceutical company that discovers,
develops and commercializes innovative therapeutics in areas of
unmet medical need. The company’s mission is to advance the care of
patients suffering from life-threatening diseases. Gilead has
operations in more than 30 countries worldwide, with headquarters
in Foster City, California.
Forward-Looking
Statements
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks, uncertainties and other factors,
including the current market demand for these types of securities
and the securities of Gilead, Gilead’s ability to consummate the
offering in the currently anticipated timeframe or at all and the
negotiations between Gilead and the underwriters. These risks,
uncertainties and other factors could cause actual results to
differ materially from those referred to in the forward-looking
statements. The reader is cautioned not to rely on these
forward-looking statements. These and other risks that could impact
the offering are described in detail in Gilead’s Quarterly Report
on Form 10-Q for the quarter ended June 30, 2016, as filed with the
U.S. Securities and Exchange Commission, and may be updated by the
risk factors set forth in any subsequent filing by Gilead with the
U.S. Securities and Exchange Commission. All forward-looking
statements are based on information currently available to Gilead,
and Gilead assumes no obligation to update any such forward-looking
statements.
For more information on Gilead Sciences, please
visit the company’s website at www.gilead.com, follow Gilead on
Twitter (@GileadSciences) or call Gilead Public Affairs at
1-800-GILEAD-5 or 1-650-574-3000.
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