Eli Lilly and Company (NYSE:LLY), a global pharmaceutical leader, has successfully completed a substantial financing round, raising a total of $6.45 billion.
This financial maneuver was achieved through the issuance of a series of notes in collaboration with major underwriting firms.
The transaction involved the sale of $1 billion in 4.500% notes due in 2027, another $1 billion of the same interest notes maturing in 2029, $1.5 billion in 4.700% notes due 2034, and $1.5 billion each in 5.000% notes and 5.100% notes maturing in 2054 and 2064, respectively.
Interest on these notes will be paid semi-annually, with rates ranging from 4.500% to 5.100%, depending on the maturity dates.
The offering underscores Eli Lilly's strategic financial planning to bolster its future growth and development in the pharmaceutical industry.
The successful close of this offering on February 9, 2024, saw Eli Lilly netting approximately $6.45 billion after underwriting discounts and before the deduction of estimated offering expenses.