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Zoetis prices $1.5B of senior notes

Aug. 14, 2018 6:24 AM ETZoetis Inc. (ZTS) StockBy: Niloofer Shaikh, SA News Editor1 Comment
  • 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.

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