Merck prices EUR 1.0 billion debt offering

28-Oct-2016 - USA

Merck & Co., Inc., known as MSD outside the United States and Canada, priced today a EUR 1.0 billion public offering of two series of Euro-denominated senior unsecured notes (collectively, the “New Notes”). Based on Oct. 21, 2016, closing exchange rates the EUR 1.0 billion equates to approximately $1.087 billion. The notes include:

  • EUR 500 million of 0.500% notes due Nov. 2024
  • EUR 500 million of 1.375% notes due Nov. 2036

Merck intends to use the net proceeds from the offering for general corporate purposes, including without limitation repayment of outstanding commercial paper borrowings and other indebtedness with upcoming maturities. The offering is expected to close on Nov. 2, 2016, subject to customary closing conditions. BNP Paribas, Citigroup Global Markets Limited, and Merrill Lynch International are acting as the active joint book-running managers for the offering.

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