Pfizer Selling $31 Billion of Bonds in Fourth-Largest Deal Ever
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Pfizer Inc. on Tuesday launched a $31 billion blue-chip bond sale, the fourth-biggest corporate notes offering ever.
The pharmaceutical giant is selling debt in eight parts to help fund its purchase of biotechnology firm Seagen Inc., the person said. The longest portion of the deal, a 40-year bond, is expected to yield 1.6 percentage point over Treasuries, lower than earlier discussions for 1.8 percentage point, said the person, who asked not to be identified as the transaction is private.