Summary
Eli Lilly and Company filed an 8-K on July 11, 2001, reporting on an event that occurred on July 9, 2001. The primary purpose of this filing was to disclose the details of a significant debt financing transaction. The company entered into an underwriting agreement to issue and sell $400 million aggregate principal amount of its 5.50% Notes due 2006. This issuance represents a strategic move by Eli Lilly to raise capital, likely for general corporate purposes, potential acquisitions, research and development, or to refinance existing debt. The inclusion of the underwriting agreement and the form of the notes as exhibits provides transparency into the terms and conditions of this debt offering, which is crucial information for investors assessing the company's financial structure and leverage.
Key Highlights
- 1Eli Lilly & Co. issued $400 million in aggregate principal amount of 5.50% Notes due 2006.
- 2The notes were issued via an underwriting agreement dated July 9, 2001.
- 3J.P. Morgan Securities Inc. was among the lead underwriters for this debt offering.
- 4The filing includes the Form of Underwriting Agreement and the Form of the 5.50% Note Due 2006 as exhibits.
- 5This transaction indicates Eli Lilly's active management of its capital structure and funding strategy.
- 6The 5.50% interest rate on the notes provides a specific cost of debt for this issuance.