On December 7, 2021 Merck (NYSE: MRK), known as MSD outside the United States and Canada, reported that priced an $8.0 billion public offering of five series of senior unsecured notes (collectively, the "notes") (Press release, Merck & Co, DEC 7, 2021, View Source [SID1234596558]). The notes include:
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$1.5 billion of 1.700% notes due 2027 (the "2027 notes")
$1.0 billion of 1.900% notes due 2028 (the "sustainability notes")
$2.0 billion of 2.150% notes due 2031 (the "2031 notes")
$2.0 billion of 2.750% notes due 2051 (the "2051 notes")
$1.5 billion of 2.900% notes due 2061 (the "2061 notes")
Merck intends to use the net proceeds from the offering of the 2027 notes, the 2031 notes, the 2051 notes and the 2061 notes for general corporate purposes, including without limitation the repayment of outstanding commercial paper borrowings (including commercial paper borrowings in connection with Merck’s acquisition of Acceleron), and other indebtedness with upcoming maturities. Merck intends to allocate an amount equal to the net proceeds of the offering of the sustainability notes to finance or refinance, in whole or in part, eligible projects. The offering is expected to close on Dec. 10, 2021, subject to customary closing conditions. BofA Securities, Inc., Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC are acting as the joint book-running managers for the offering.
The offering of the notes is being made pursuant to an effective shelf registration statement (including a base prospectus) filed with the Securities and Exchange Commission (the "SEC"). The offering may be made only by means of a prospectus and related prospectus supplement, copies of which may be obtained by calling BofA Securities, Inc. toll-free at 1-800-294-1322, Barclays Capital Inc. toll-free at 1-888-603-5847, Credit Suisse Securities (USA) LLC toll-free at 1-800-221-1037, Deutsche Bank Securities Inc. toll-free at 1-800-503-4611 or Goldman Sachs & Co. LLC toll-free at 1-866-471-2526. An electronic copy of the registration statement and prospectus supplement, together with the base prospectus, is available on the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.