LONDON, UK: AstraZeneca announced that its wholly owned subsidiary AstraZeneca Finance LLC, priced a three tranche global bond offering totalling $2.25bn on 28 February 2023.
The offering is expected to close on 3 March 2023, subject to customary closing conditions. The transaction, which is a global offering registered with the US Securities and Exchange Commission (“SEC”), consists of the following three tranches:
Notes issued by AstraZeneca Finance LLC and fully and unconditionally guaranteed by AstraZeneca
· $1.1bn of fixed rate notes with a coupon of 4.875%, maturing 3 March 2028;
· $650m of fixed rate notes with a coupon of 4.900%, maturing 3 March 2030; and
· $500m of fixed rate notes with a coupon of 4.875%, maturing 3 March 2033.
AstraZeneca expects to use the net proceeds of the offering for general corporate purposes, which may include the refinancing of existing indebtedness.
BofA Securities, Inc., HSBC Securities (USA) Inc., Mizuho Securities USA LLC and Santander US Capital Markets LLC acted as joint book-running managers on the transaction. In addition, and in line with our commitment to Inclusion & Diversity, the women-owned firms R. Seelaus & Co., LLC and Tigress Financial Partners LLC also acted as underwriters on the transaction.
The notes will be issued under AstraZeneca’s effective shelf registration statement on Form F-3, which AstraZeneca and AstraZeneca Finance LLC filed with the SEC on 24 May 2021. The offering is being made solely by means of the prospectus contained within that shelf registration statement, along with a prospectus supplement forming part of the effective registration statement, which investors should read.