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Amgen Mulls More Green Bonds After ‘Robust Interest’ in Debut

  • Pharma giant is ‘hypersensitive’ to investors, company says
  • Has a sustainability target of becoming carbon neutral by 2027
Amgen Set To Join Dow Jones Industrial Average Index
Photographer: Patrick T. Fallon/Bloomberg

Pharmaceutical giant Amgen Inc. may plan to sell more bonds to benefit the environment and society after its debut green-bond got a warm reception from investors.

The maker of the blockbuster arthritis treatment Enbrel raised $4 billion in February in a four-part transaction that included a $750 million green-bond tranche, a first for Amgen. The component was six times over-subscribed by a diverse portfolio of investors, according to Judy Brown, senior vice-president of corporate affairs. That allowed the company to shave about eight basis points in borrowing costs, she added.