Summary
Amgen Inc. (AMGN) announced on September 10, 2012, the commencement of an offering of its Senior Notes. This offering includes two tranches: Senior Notes due 2019 denominated in euros and Senior Notes due 2029 denominated in British pounds sterling. These notes are being offered to investors outside the United States under Regulation S and will not be registered with the Securities Act, nor will they be offered or sold within the U.S. The primary purpose of this debt issuance is to fund general corporate purposes for Amgen, with a specific mention of using the net proceeds to repay outstanding indebtedness. This move signals Amgen's strategy to manage its capital structure and potentially refinance existing debt with new issuances denominated in foreign currencies.
Key Highlights
- 1Amgen is initiating an offering of Senior Notes.
- 2The offering includes two tranches: EUR-denominated Senior Notes due 2019 and GBP-denominated Senior Notes due 2029.
- 3The offering is conducted outside the United States under Regulation S.
- 4The Notes will not be registered under the Securities Act and will not be offered or sold within the U.S.
- 5Proceeds will be used for general corporate purposes, including the repayment of outstanding indebtedness.
- 6The final terms of the Notes will be determined at the time of pricing.