On October 30, 2023 Bristol Myers Squibb (NYSE: BMY) reported that it has priced a public offering (the "Offering") of senior unsecured notes in a combined aggregate principal amount of $4.5 billion (collectively, the "Notes") (Press release, Bristol-Myers Squibb, OCT 30, 2023, View Source [SID1234636434]). The Notes will be issued in four tranches: (i) $1,000,000,000 in aggregate principal amount of 5.750% notes due 2031, (ii) $1,000,000,000 in aggregate principal amount of 5.900% notes due 2033, (iii) $1,250,000,000 in aggregate principal amount of 6.250% notes due 2053, and (iv) $1,250,000,000 in aggregate principal amount of 6.400% notes due 2063. Bristol Myers Squibb expects that the closing of the Offering will occur on November 13, 2023, subject to the satisfaction of customary closing conditions.
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Bristol Myers Squibb intends to use the net proceeds of the Offering for general corporate purposes, including, but not limited to, the financing of the previously announced proposed acquisition of Mirati Therapeutics, Inc. (the "Acquisition") and the fees and expenses in connection therewith and with the Offering. The Offering is not conditioned upon the consummation of the Acquisition.
Morgan Stanley & Co. LLC, Barclays Capital Inc., Citigroup Global Markets Inc., and J.P. Morgan Securities LLC are acting as joint book-running managers for the Offering.
The Offering of the Notes is being made pursuant to an effective shelf registration statement (including a prospectus and preliminary prospectus supplement) (File No. 333-261623) filed with the U.S. Securities and Exchange Commission (the "SEC"). You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Bristol Myers Squibb, any underwriter or any dealer participating in the Offering will arrange to send you the prospectus and the preliminary prospectus supplement (or, if available, the prospectus supplement) if you request it by contacting Bristol Myers Squibb Investor Relations or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, N.Y. 10014, or by email at [email protected], Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, N.Y. 11717, by telephone at 1-888-603-5847, or by email at [email protected], Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, N.Y. 11717, by telephone at 1-800-831-9146, or by email at [email protected], or J.P. Morgan Securities LLC, Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, N.Y. 11717, or by telephone at 1-866-803-9204.