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Merck Sells $8 Billion of Bonds to Fund Acceleron Acquisition

  • Offering includes an ESG-linked tranche, first from the firm
  • Investor demand for the bonds reached $33 billion at the peak
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Photographer: Christopher Occhicone/Bloomberg
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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.