Deals
Sanofi’s $7 Billion Debt Sale Leads Busiest Issuance Since 2009
This article is for subscribers only.
Sanofi-Aventis SA, the French drugmaker that is purchasing Genzyme Corp., sold $7 billion of bonds to fund the acquisition in the biggest debt offering in more than a year and contributing to the busiest day for new issues in 18 months.
The company issued 1-, 2- and 3-year floating-rate notes and 3-, 5- and 10-year fixed-rate debt in dollars, according to data compiled by Bloomberg. Any remaining proceeds may be used for general corporate purposes, the Paris-based company said today in a regulatory filing.