Allen & Overy Reps Novartis In $5B 3-Part Bond Issue

Law360, New York (March 10, 2010, 5:30 PM EST) -- Swiss pharmaceutical giant Novartis AG has revealed plans to launch a $5 billion bond market transaction in three increments, saying the proceeds would be primarily funneled toward its pending $28.1 billion acquisition of eye care company Alcon Inc.

The transaction will be issued in three parts, the company said Tuesday: $2 billion in 1.9 percent notes due April 24, 2013; $2 billion in 2.9 percent notes due April 24, 2015; and $1 billion in 4.4 percent notes due April 24, 2020.

Proceeds from the offering will...
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