Deals
Biogen Planning Its Biggest Bond Offering to Buy Back Shares
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Biogen Inc. is planning what may be its biggest bond offering that will go to boost shareholders who have seen the value of the biotech company’s stock plummet by more than 8 percent this year.
The drug maker said Thursday in a regulatory filing that it plans to issue bonds in as many as four parts. The portion of the proposed deal with the longest maturity will be 30-year securities that may yield as much as 2.375 percentage points more than similar-maturity Treasuries, according to a person with knowledge of the sale, who asked not to be identified because the information isn’t public.