Pfizer Prices $4,000,000,000 Debt Offering
May 18 2020 - 9:24PM
Business Wire
Pfizer Inc. (NYSE: PFE) today announced the pricing of a debt
offering consisting of four tranches of notes:
$750,000,000 aggregate principal amount of 0.800% notes due 2025
$1,000,000,000 aggregate principal amount of 1.700% notes due 2030
$1,000,000,000 aggregate principal amount of 2.550% notes due 2040
$1,250,000,000 aggregate principal amount of 2.700% notes due
2050
Pfizer intends to use the net proceeds for general corporate
purposes, including to repay a portion of its outstanding
commercial paper and/or to refinance, redeem or repurchase existing
debt.
The closing of the offering is expected to occur on May 28,
2020, subject to satisfaction of customary closing conditions.
Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche
Bank Securities Inc. and J.P. Morgan Securities LLC are acting as
joint book-running managers for the offering.
The offering of these securities is being made only by means of
a prospectus. Copies may be obtained by calling Barclays Capital
Inc. at (888) 603-5847, Citigroup Global Markets Inc. at (800)
831-9146, Deutsche Bank Securities Inc. at (800) 503-4611 and J.P.
Morgan Securities LLC at (212) 834-4533.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the notes, nor will there be
any sale of the notes in any jurisdiction in which such offer,
solicitation, or sale would be unlawful.
About Pfizer: Breakthroughs that change patients’
lives
At Pfizer, we apply science and our global resources to bring
therapies to people that extend and significantly improve their
lives. We strive to set the standard for quality, safety and value
in the discovery, development and manufacture of health care
products, including innovative medicines and vaccines. Every day,
Pfizer colleagues work across developed and emerging markets to
advance wellness, prevention, treatments and cures that challenge
the most feared diseases of our time. Consistent with our
responsibility as one of the world’s premier innovative
biopharmaceutical companies, we collaborate with health care
providers, governments and local communities to support and expand
access to reliable, affordable health care around the world. For
more than 170 years, we have worked to make a difference for all
who rely on us. We routinely post information that may be important
to investors on our website at www.Pfizer.com. In addition, to
learn more, please visit us on www.Pfizer.com and follow us on
Twitter at @Pfizer and @Pfizer News, LinkedIn, YouTube and like us
on Facebook at Facebook.com/Pfizer.
Forward-Looking Statements
This press release contains forward-looking statements made
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements involve substantial risks
and uncertainties. We have tried, wherever possible, to identify
such statements by using words such as “will,” “may,” “could,”
“likely,” “ongoing,” “anticipate,” “estimate,” “expect,” “project,”
“intend,” “plan,” “believe,” “target,” “forecast,” “goal,”
“objective,” “aim,” “seek” and other words and terms of similar
meaning or by using future dates in connection with any discussion
of, among other things, expectations regarding the completion of
the notes offering and the use of proceeds. A list and description
of risks, uncertainties and other matters can be found in our
Annual Report on Form 10-K for the year ended December 31, 2019 and
in our subsequent Quarterly Reports on Form 10-Q, including in the
sections thereof captioned “Forward-Looking Information and Factors
That May Affect Future Results” and “Risk Factors,” in our Current
Reports on Form 8-K, and in the prospectus supplement and
accompanying prospectus, in each case including in the section
thereof captioned “Risk Factors.” You should understand that it is
not possible to predict or identify all such factors. Consequently,
you should not consider any such list to be a complete set of all
potential risks or uncertainties.
We cannot guarantee that any forward-looking statement will be
realized. Achievement of anticipated results is subject to
substantial risks, uncertainties and inaccurate assumptions. Should
known or unknown risks or uncertainties materialize, or should
underlying assumptions prove inaccurate, actual results could vary
materially from past results and those anticipated, estimated or
projected. You should bear this in mind as you consider
forward-looking statements, and you are cautioned not to put undue
reliance on forward-looking statements. We undertake no obligation
to publicly update forward-looking statements, whether as a result
of new information, future events or otherwise, except as required
by law or by the rules and regulations of the Securities and
Exchange Commission (the “SEC”). You are advised, however, to
consult any further disclosures we make on related subjects in our
Form 10-K, 10-Q and 8-K reports and our other filings with the
SEC.
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