Celgene today completed a $1.5 billion, two-part offering in line with price talk. The $500 million of 1.9% notes due 2017 priced at T+130, and the $1 billion of 3.25% notes due 2022 priced at T+170.
Proceeds will be used to repay borrowings under the company’s commercial-paper program and for general corporate purposes. As of June 30, Celgene had $390.4 million outstanding in its commercial-paper program, filings show. Terms:
| Issuer | Celgene Corp. |
| Ratings | BBB+/Baa2 |
| Amount | $500 million |
| Issue | SEC-registered |
| Coupon | 1.90% |
| Price | 99.786 |
| Yield | 1.945% |
| Spread | T+130 |
| Maturity | Aug. 15, 2017 |
| Call | Make-whole T+20 |
| Trade | Aug. 6, 2012 |
| Settle | Aug. 9, 2012 |
| Books | BAML/JPM/MS |
| Px Talk | T+130 |
| Notes | Proceeds will be used to repay borrowings under its commercial-paper program, and for general corporate purposes |
| Issuer | Celgene Corp. |
| Ratings | BBB+/Baa2 |
| Amount | $1 billion |
| Issue | SEC-registered |
| Coupon | 3.25% |
| Price | 99.949 |
| Yield | 3.256% |
| Spread | T+170 |
| Maturity | Aug. 15, 2022 |
| Call | Make-whole T+25 |
| Trade | Aug. 6, 2012 |
| Settle | Aug. 9, 2012 |
| Books | BAML/JPM/MS |
| Px Talk | T+170 |