Merck & Co. priced an $8 billion U.S. high-grade corporate debt sale to help fund the $11.5 billion acquisition of Acceleron Pharma Inc.
Merck sold the bonds in five parts. The longest portion of the offering, a 40-year security, yields 1.1 percentage points above Treasuries, after initial discussions around 1.3 percentage points, according to a person with knowledge of the matter, who asked not to be identified as the details are private.
