On September 14, 2026 Sandoz (SIX:SDZ/OTCQX:SDZNY), the global leader in affordable medicines, reported the issuance of a EUR 500 million bond with a coupon of 4.835% and a maturity of 12 years, for general corporate purposes including the refinancing of existing debt.
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Sandoz CFO Remco Steenbergen says: "The successful issuance of this 12-year EUR 500 million bond underlines the strength of our financial foundation at Sandoz and extends the maturity profile of our debt portfolio. Our proactive interest rate risk management substantially mitigated the impact of recent increases in market interest rates and enabled us to secure it at an attractive effective interest cost, below the bond’s contractual coupon. Through continued discipline in debt management, we have achieved a diversified, well-balanced maturity profile and meaningful reductions in funding costs."
Including this transaction, Sandoz expects to maintain an average annual interest rate on gross debt below 4%, further reinforcing its resilient capital structure through a debt maturity profile extending to 2038 and an average debt maturity of approximately six years, excluding bonds maturing through 2027.
Sandoz aims to maintain an investment grade credit rating and is rated Baa2 (positive outlook) by Moody’s and BBB (positive outlook) by S&P.
The transaction was supported by a bank syndicate consisting of Bank of America, Mizuho and SEB as active bookrunners and Citi, HSBC and Société Générale as passive bookrunners. Advestra and Linklaters acted as Sandoz legal advisors.
(Press release, Sandoz, SEP 14, 2026, View Source [SID1234670832])