- Zoetis (NYSE:ZTS) has agreed to sell $1.5B of senior notes, consisting of $300M floating rate senior notes due 2021, $300M of 3.250% senior notes due 2021, $500M of 3.900% senior notes due 2028 and $400M of 4.450% senior notes due 2048, in an underwritten public offering.
- The company intends to use the net proceeds to repay $500M drawn under the 364-day revolving credit facility entered into on July 27, 2018, repay $500M issued under its commercial paper program, and for general corporate purposes.
- The offering is expected to close on August 20.
- Shares are up a fraction premarket.