Gilead Prices $1 Billion of Senior Unsecured Notes
March 23 2011 - 7:54PM
Business Wire
Gilead Sciences, Inc. (Nasdaq: GILD), a biopharmaceutical
company that discovers, develops and commercializes innovative
therapeutics in areas of unmet medical need, today announced the
pricing of senior unsecured notes in an aggregate principal amount
of $1 billion, in an underwritten, registered public offering. The
notes will mature on April 1, 2021, and will bear interest at an
annual rate of 4.5 percent. The offering is expected to close March
30, 2011, subject to customary closing conditions.
This offering follows the recent completion of the ratings
process by Standard & Poor’s and Moody’s. Standard & Poor’s
has assigned the notes a rating of A-. Moody’s has assigned the
notes a rating of Baa1.
Gilead intends to use the net proceeds from this offering
for general corporate purposes, which may include the repayment of
certain indebtedness and the repurchase of outstanding common stock
pursuant to the company’s authorized share repurchase
program.
Bank of America Merrill Lynch, J.P. Morgan and Morgan Stanley
acted as joint book-running managers for the offering. The offering
of the securities is being made only by means of a prospectus
supplement and the accompanying base prospectus, which is filed as
part of Gilead’s effective shelf registration statement on Form S-3
(File No. 333-173006), copies of which may be obtained from:
Merrill Lynch, Pierce,Fenner &
SmithIncorporated
J. P. Morgan Securities
LLC
Morgan Stanley & Co.
Incorporated
100 West 33rd Street
383 Madison Avenue
180 Varick Street
New York, NY 10001
New York, NY 10179
New York, NY 10014
Attention: ProspectusDepartment
Attention: InvestmentGrade Syndicate
Desk
Attention: ProspectusDepartment
800 294 1322
212 834 4533
866 718 1649
An electronic copy of the prospectus supplement and the
accompanying base prospectus may also be obtained at no charge at
the Securities and Exchange Commission’s website at
www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such jurisdiction.
About Gilead Sciences
Gilead Sciences is a biopharmaceutical company that discovers,
develops and commercializes innovative therapeutics in areas of
unmet medical need. The company's mission is to advance the care of
patients suffering from life-threatening diseases worldwide.
Headquartered in Foster City, California, Gilead has operations in
North America, Europe and Asia Pacific.
Forward-Looking
Statement
This press release includes forward-looking statements, within
the meaning of the Private Securities Litigation Reform Act of
1995, that are subject to risks, uncertainties and other factors,
including the current market demand for these types of securities
and the securities of Gilead and the negotiations between Gilead
and the underwriters. These risks, uncertainties and other factors
could cause actual results to differ materially from those referred
to in the forward-looking statements. The reader is cautioned not
to rely on these forward-looking statements. Other risks that could
impact the offering are described in detail in Gilead's Annual
Report on Form 10-K for the year ended December 31, 2010 as filed
with the U.S. Securities and Exchange Commission, and may be
updated by the risk factors set forth in any subsequent filing by
Gilead with the U.S. Securities and Exchange Commission. All
forward-looking statements are based on information currently
available to Gilead and Gilead assumes no obligation to update any
such forward-looking statements.
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