8-KMaterial AgreementsExhibits & Filings

AMGEN INC 8-K Report, Material Agreement (Mar 8, 2016)

Filed March 8, 2016For Securities:AMGN

Summary

Amgen Inc. (AMGN) filed an 8-K on March 8, 2016, to report the entry into a material definitive agreement related to the issuance and sale of CHF 700,000,000 of its 0.410% bonds due 2023. These bonds were sold to investors outside the United States under Regulation S and have not been registered under the Securities Act of 1933, meaning they cannot be offered or sold within the U.S. The net proceeds from this offering were approximately CHF 696,540,000, after accounting for discounts and estimated expenses. This debt issuance provides Amgen with additional capital, which can be utilized for various corporate purposes such as funding operations, strategic initiatives, or further research and development.

Key Highlights

  • 1Amgen Inc. issued CHF 700,000,000 of 0.410% bonds due 2023.
  • 2The bonds were sold on March 4, 2016, and the filing date was March 8, 2016.
  • 3The offering was conducted outside the United States in reliance on Regulation S.
  • 4The bonds are not registered under the U.S. Securities Act of 1933 and cannot be offered or sold within the U.S.
  • 5Net proceeds from the bond issuance were approximately CHF 696,540,000.
  • 6The bonds rank equally with other senior unsecured indebtedness of Amgen.
  • 7A 'change of control' provision allows bondholders to require Amgen to repurchase bonds at 101% of principal plus accrued interest.

Frequently Asked Questions

This 8-K filing is to report a material definitive agreement, specifically the issuance and sale of CHF 700,000,000 of 0.410% bonds due 2023 by Amgen Inc.

The purchasers of the bonds were UBS AG, BNP Paribas (Suisse) SA, and Credit Suisse AG. The sale was made to investors outside the United States.

In the event of a change of control as defined in the bond terms, bondholders have the right to require Amgen to purchase all or a portion of their bonds. The purchase price would be 101% of the principal amount of the bonds, plus any accrued and unpaid interest.

These bonds will rank equally with Amgen's other existing and future senior unsecured indebtedness. They will rank senior to any subordinated indebtedness and are effectively subordinated to obligations of Amgen's subsidiaries and subordinated to Amgen's secured obligations to the extent of the assets securing them.