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.