Lilly completes $9B multi-tranche debt offering tied to Centessa acquisition

ELI LILLY & Co

Completed $9.0B aggregate principal debt offering across eight tranches of floating and fixed-rate notes due 2026-2066.
Net proceeds of ~$8.94B after underwriting discounts; proceeds intended for general corporate purposes including the Centessa Acquisition.
Interest rates: floating at SOFR+0.350% (2028) or +0.460% (2029); fixed rates from 4.150% to 5.700%.
Certain notes (2029 floating, 2029/2031/2033/2036 fixed) subject to mandatory redemption at 101% if Centessa Acquisition not closed by March 31, 2027.
Notes issued under existing indenture; underwriters include Morgan Stanley, Citigroup, Deutsche Bank, Goldman Sachs.

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