Gilead Sciences Offering $1 Billion in Notes Due 2021

FOXBusiness

Gilead Sciences (NASDAQ:GILD) said on Thursday it is offering $1 billion in senior unsecured notes set to mature in ten years.

The Foster City, Calif.-based company said the notes will mature on April 1, 2021, and will bear interest at an annual rate of 4.5%. The offering is slated to close on March 30, pending customary closing conditions.

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The drug maker said it plans on using proceeds from the deal for general corporate purposes, which may include repayment of certain indebtedness and the repurchase of outstanding common stock.

Bank of America Merrill Lynch (NYSE:BAC), J.P. Morgan (NYSE:JPM) and Morgan Stanley (NYSE:MS) acted as joint book-running managers for the offering.