Gilead Prices $3.7 Billion of Senior Unsecured Notes
December 06 2011 - 6:13PM
Business Wire
Gilead Sciences, Inc. (Nasdaq:GILD) today announced the pricing
of senior unsecured notes in an aggregate principal amount of $3.7
billion, in an underwritten, registered public offering, consisting
of four tranches:
- $750 million of 2.40% senior notes
maturing in December 2014
- $700 million of 3.05% senior notes
maturing in December 2016
- $1,250 million of 4.40% senior notes
maturing in December 2021
- $1,000 million of 5.65% senior notes
maturing in December 2041
The senior notes are rated A- by Standard & Poor’s and Baa1
by Moody’s.
The offering is expected to close December 13, 2011, subject to
customary closing conditions.
Gilead intends to use the net proceeds from this offering
to pay a portion of the cash consideration to purchase all of the
outstanding shares of common stock of Pharmasset, Inc. and to pay
related fees and expenses.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays
Capital Inc., RBC Capital Markets, LLC and Wells Fargo Securities,
LLC acted as joint book-running managers in the offering of the
senior notes due 2014 and senior notes due 2016, and Merrill Lynch,
Pierce, Fenner & Smith Incorporated, Barclays Capital Inc.,
Goldman, Sachs & Co. and J.P. Morgan Securities LLC acted as
joint book-running managers in the offering of the senior notes due
2021 and senior notes due 2041. 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 &
Smith Incorporated
100 West 33rd Street
New York, NY 10001
Attention: Prospectus Department
(800) 294-1322
Barclays Capital Inc.
c/o Broadridge Integrated Prospectus
Distribution
1155 Long Island Avenue
Edgewood, NY 11717
barclaysprospectus@broadridge.com
(888) 603-5847
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, Gilead’s ability to consummate the
offering in the currently anticipated timeframe or at all and
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 Quarterly Report on
Form 10-Q for the period ended September 30, 2011 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.
For more information on Gilead Sciences, please
visit the company’s website at www.gilead.com or call Gilead Public
Affairs at 1-800-GILEAD-5 or 1-650-574-3000.
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