Sanofi (SNY), a biopharmaceutical company, announced that it has priced its offering of 2.3 billion Euros of notes across 3 tranches. Sanofi intends to use the net proceeds of the offering for general corporate purposes.
Sanofi develops and markets medicines and vaccines across areas including immunology, oncology, and rare diseases.
The pricing of notes across three tranches is such that,
-1,000 million Euros fixed-rate notes, which are due May 2029, bearing interest at an annual rate of 3.000%.
-650 million Euros fixed-rate notes, which are due May 2033, bearing interest at an annual rate of 3.375%.
-650 million Euros fixed-rate notes, due May 2037, bearing interest at an annual rate of 3.750%.
The notes are being issued under Sanofi's Euro Medium Term Note programme, and the transaction has been led by Citigroup, HSBC, and J.P. Morgan as global coordinators.
Sanofi offers vaccines for poliomyelitis, pertussis, Haemophilus influenzae type b (Hib) pediatric vaccines, and protection against respiratory syncytial virus.
SNY has traded between $43.32 and $55.73 over the past year. The stock closed Friday's trade at $46.78, down 1.58%.
In the overnight market, SNY is down 1.47% at $46.09.
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