Sanofi €1.8 billion bond issue

Overview:

• Paris headquarter pharmaceutical company Sanofi has successfully issued €1.8 billion of notes to the Euronext Paris.
• The issuance was offered across three tranches: €500 million 0% Fixed Rate Notes due 2019, €600 million 0.625% Fixed Rate Notes due 2024, and €700 million 1.125% Fixed Rate Notes due 2028, as part of the company's wider EMTN programme.
• The transaction allows Sanofi to lower the cost and extend the maturity of its debt. The company will use the net proceeds of the offering for corporate purposes, including the repayment of existing indebtedness.
• Banco Santander, Barclays Bank, Citigroup Global Markets, ING and The Royal Bank of Scotland acted as book runners for the offering.

John Crabb - Journalist