Biogen Prices $6.0 Billion of Senior Unsecured Notes

Category:

Friday, September 11, 2015 7:00 am EDT

Dateline:

CAMBRIDGE, Mass.

Public Company Information:

NASDAQ:
BIIB
US09062X1037

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Biogen (NASDAQ: BIIB) announced today the pricing of four series of senior unsecured notes for an aggregate principal amount of $6.0 billion. The notes will mature as follows:

  • $1.50 billion will mature on September 15, 2020 and will bear interest at an annual rate of 2.900%
  • $1.00 billion will mature on September 15, 2022 and will bear interest at an annual rate of 3.625%
  • $1.75 billion will mature on September 15, 2025 and will bear interest at an annual rate of 4.050%
  • $1.75 billion will mature on September 15, 2045 and will bear interest at an annual rate of 5.200%

The offering is expected to close on September 15, 2015, subject to customary closing conditions.

Biogen intends to use the net proceeds from this offering, together with cash on hand, to fund share repurchases of its common stock under the company’s previously authorized $5.0 billion share repurchase program, for working capital and other general corporate purposes.

Goldman, Sachs & Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers and representatives of the several underwriters. A copy of the preliminary prospectus supplement and the accompanying base prospectus, which is filed as part of Biogen’s effective shelf registration statement on Form S-3 filed on September 8, 2015 (File No. 333-206799), may be obtained from either of the representatives by calling Goldman, Sachs & Co. toll-free at 1 (866) 471-2526 or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1 (800) 294-1322.

An electronic copy of the prospectus supplement and the accompanying base prospectus may also be obtained at no charge at the Securities and Exchange Commission’s website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or other jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction, where the offer, solicitation or sale of these securities would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. The offering of the notes may be made only by means of a prospectus supplement and the accompanying base prospectus.

About Biogen
Through cutting-edge science and medicine, Biogen discovers, develops and delivers to patients worldwide innovative therapies for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders. Founded in 1978, Biogen is one of the world’s oldest independent biotechnology companies and patients worldwide benefit from its leading multiple sclerosis and innovative hemophilia therapies.

Biogen Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including statements about the expected use of proceeds and timing of completion of the offering. You should not place undue reliance on these statements. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. The offering may also be adversely affected by market conditions, adverse changes to Biogen’s business or prospects, and the other risks and uncertainties that are described in Biogen’s filings with the Securities and Exchange Commission. These statements are based on current beliefs and expectations and speak only as of the date of this press release. Biogen does not undertake any obligation to publicly update any forward-looking statements.

Contact:

Biogen
Media Contact:
Jason Glashow, +1 617-679-2057
public.affairs@biogen.com
or
Investor Contact:
Ben Strain, +1 781-464-2442
IR@biogen.com