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.