Novartis issues bonds worth CHF1.5 billion

Source: Healthcare Digital

Date :11/06/2008 09:03:48

Novartis AG said on Tuesday June 10, 2008 that it had successfully issued two Swiss franc benchmark bonds totaling CHF 1.5 billion in the Swiss capital market.

The multinational pharmaceutical company based in Basel, Switzerland said the offering generated strong demand and ranks as the largest-ever corporate offering in the Swiss franc market.

The bonds will be listed individually on the SWX Swiss exchange.

The first bond was a four-year CHF 700 million benchmark bond in the international market segment with a coupon of 3.5 percent and was priced at 100.32 percent.

The second bond was a seven-year CHF 800 million benchmark domestic bond with a coupon of 3.625 percent and was priced at 100.35 percent, Novartis said.