Thursday, December 8, 2011

Gilead selling $3.7 billion in notes for Pharmasset buyout

Looking for ways to finance its planned $11 billion acquisition of Pharmasset Inc. , biotech giant Gilead Sciences Inc. said it will sell $3.7 billion worth of bonds.
The four-part issuance consists of $750 million in bonds, due in 2014 and paying 2.4 percent interest, another $700 million at 3.05 percent interest and due in 2016, a third tranche of $1.25 billion 10-year notes at 4.4 percent interest and $1 billion at 5.65 percent interest due in 2041.

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