Summary
Amgen Inc. (AMGN) filed an 8-K on February 23, 2016, to report the pricing of a CHF 700,000,000 offering of bonds due 2023. This offering, being conducted outside the United States under Regulation S, indicates the company's access to international debt markets and a strategy to secure financing. The bonds carry a relatively low annual interest rate of 0.410%, suggesting favorable borrowing conditions for Amgen at that time. Investors should note that these bonds were not registered under the Securities Act of 1933 and are not intended for offer or sale within the United States. The settlement date is anticipated to be March 8, 2016. This event highlights Amgen's proactive capital management and its utilization of diverse financing instruments to support its operations and growth initiatives.
Key Highlights
- 1Amgen priced an offering of CHF 700,000,000 aggregate principal amount of bonds.
- 2The bonds are due in 2023.
- 3The offering is being conducted outside the United States in reliance on Regulation S.
- 4The bonds carry an annual interest rate of 0.410%.
- 5The bonds have not been and will not be registered under the U.S. Securities Act of 1933.
- 6The bonds may not be offered or sold within the United States.
- 7Settlement for the offering is expected to occur on March 8, 2016.