debt
confidence high
sentiment neutral
materiality 0.55
Biogen issues $1.75B in three tranches of senior notes to refinance maturing 2025 debt
BIOGEN INC.
- $400M 5.050% notes due 2031, $650M 5.750% notes due 2035, $700M 6.450% notes due 2055.
- Net proceeds, with cash on hand, will retire the outstanding $1.75B 4.050% Senior Notes due 2025.
- Notes are senior unsecured; redeemable at par plus make-whole; 101% change-of-control put.
- Underwriters: BofA Securities, Citigroup Global Markets, J.P. Morgan Securities.