Biogen Prices $3.0 Billion of Senior Unsecured Notes
April 27 2020 - 4:06PM
Biogen Prices $3.0 Billion of Senior Unsecured Notes
Biogen Inc. (Nasdaq: BIIB)
announced today
the pricing of two series of senior unsecured notes for an
aggregate principal amount of $3.0 billion. The notes will mature
as follows:
- $1.5 billion will mature on May 1, 2030 and will bear interest
at an annual rate of 2.25%
- $1.5 billion will mature on May 1, 2050 and will bear interest
at an annual rate of 3.15%
The offering is expected to close on April 30,
2020, subject to customary closing conditions.
Biogen intends to use the net proceeds from the
sale of the notes to redeem in full $1.5 billion in aggregate
principal amount of its outstanding 2.90% Senior Notes due
September 15, 2020, and all accrued and unpaid interest thereon, to
fund, together with cash on hand, repurchases of its common stock
under its share repurchase plans and for working capital and other
general corporate purposes.
Goldman Sachs & Co. LLC, BofA Securities,
Inc. and J.P. Morgan Securities LLC are acting as joint
book-running managers and representatives of the several
underwriters. A copy of the preliminary prospectus supplement and
the accompanying base prospectus, which is filed as part of
Biogen’s effective shelf registration statement on Form S-3 filed
on April 24, 2020 (File No. 333-237819), may be obtained from any
of the representatives by calling Goldman Sachs & Co. LLC
toll-free at 1 (866) 471-2526, BofA Securities, Inc. toll-free at 1
(800) 294-1322 or J.P. Morgan Securities LLC at 1 (212)
834-4533.
An electronic copy of the preliminary 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 news release does not constitute an offer to
sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of securities in any state or other
jurisdiction where such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction, where the offer,
solicitation or sale of these securities would be unlawful prior to
the registration or qualification under the securities laws of any
such state or other jurisdiction. The offering of the notes may be
made only by means of a prospectus supplement and the accompanying
base prospectus.
About Biogen Biogen discovers,
develops and delivers worldwide innovative therapies for people
living with serious neurological and neurodegenerative diseases as
well as related therapeutic adjacencies. Biogen has the leading
portfolio of medicines to treat multiple sclerosis, has introduced
the first approved treatment for spinal muscular atrophy,
commercializes biosimilars of advanced biologics and is focused on
advancing research programs in multiple sclerosis and
neuroimmunology, Alzheimer’s disease and dementia, neuromuscular
disorders, movement disorders, ophthalmology, immunology,
neurocognitive disorders, acute neurology and pain.
Biogen Safe Harbor This news
release contains forward-looking statements, including statements
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, relating to: the expected
use of proceeds and timing of completion of the offering. These
forward-looking statements may be accompanied by such words as
“aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,”
“forecast,” “goal,” “intend,” “may,” “plan,” “potential,”
“possible,” “will,” “would,” and other words and terms of similar
meaning. You should not place undue reliance on these
statements.
These statements involve risks and uncertainties
that could cause actual results to differ materially from those
reflected in such statements, including: the offering may be
adversely affected by market conditions, adverse changes to our
business or prospects; and the other risks and uncertainties that
are described in the Risk Factors section of our most recent annual
or quarterly report and in other reports we have filed with the
Securities and Exchange Commission.
These statements are based on current beliefs and
expectations and speak only as of the date of this news release. We
do not undertake any obligation to publicly update any
forward-looking statements.
Biogen
Media Contact: |
Biogen
Investor Contact: |
David Caouette |
Joe Mara |
Biogen Inc. |
Biogen Inc. |
Tel: (781) 464-3260 |
Tel: (781) 464-2442 |
Biogen (TG:IDP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Biogen (TG:IDP)
Historical Stock Chart
From Jul 2023 to Jul 2024