8-KMaterial AgreementsExhibits & Filings

AMGEN INC 8-K Report, Material Agreement (Aug 9, 2021)

Filed August 9, 2021For Securities:AMGN

Summary

Amgen Inc. (AMGN) announced on August 9, 2021, the successful issuance and sale of approximately $4.94 billion in aggregate principal amount of senior notes. This debt offering comprises four tranches with varying maturity dates and coupon rates: 1.650% notes due 2028, 2.000% notes due 2032, 2.800% notes due 2041, and 3.000% notes due 2052. The proceeds from this significant financing will bolster the company's liquidity and provide flexibility for potential strategic initiatives. The issuance was conducted under an effective shelf registration statement and governed by an existing indenture. The terms of the notes include provisions for a change of control triggering event, where noteholders may be able to require Amgen to repurchase their notes at a premium. This offering represents a substantial capital raise, aimed at strengthening Amgen's financial position and supporting its ongoing operations and growth strategies.

Key Highlights

  • 1Amgen Inc. raised approximately $4.94 billion through the issuance of senior notes.
  • 2The debt offering included four series of notes with maturities in 2028, 2032, 2041, and 2052.
  • 3Coupon rates for the notes range from 1.650% to 3.000%, reflecting different maturity periods.
  • 4The issuance was registered under an effective Form S-3 registration statement.
  • 5Proceeds are intended to enhance the company's financial flexibility and support its business.
  • 6A change in control triggering event clause allows noteholders to potentially put their notes back to Amgen at a premium.
  • 7The Notes rank equally with other senior unsecured indebtedness of Amgen.

Frequently Asked Questions

Amgen raised approximately $4.94 billion in aggregate principal amount from the sale of its senior notes.

Amgen issued $1.25 billion of 1.650% Senior Notes due 2028, $1.25 billion of 2.000% Senior Notes due 2032, $1.15 billion of 2.800% Senior Notes due 2041, and $1.35 billion of 3.000% Senior Notes due 2052.

The filing states the net proceeds were approximately $4.94 billion after deducting expenses. While specific use is not detailed in this 8-K, such proceeds typically support general corporate purposes, which can include funding operations, capital expenditures, research and development, and potential acquisitions or debt repayments.

In the event of a change in control triggering event, as defined in the offering documents, noteholders have the right to require Amgen to repurchase their notes at 101% of the principal amount, plus any accrued and unpaid interest.