Tuesday, March 3, 2009

Roche Holding

NEW YORK, Feb 18 (Reuters) - Swiss drugmaker Roche Holding (ROG.VX) on Wednesday sold $16 billion in a six-part debt sale, the largest this year, a market source familiar with the sale said.

Proceeds from the sale will be used to help finance its $42 billion hostile takeover bid for U.S. biotechnology company Genetech Inc, the source added.

The sale included:

-- $3 billion in one-year floating-rate notes yielding 1.00 percentage points over the three-month London Interbank Offered Rate (LIBOR);
-- $750 million in two-year floating-rate notes yielding 2.00 percentage points over three-month LIBOR;
-- $2.5 billion in 3-year notes yielding 3.35 percentage points over U.S. Treasuries;
-- $2.75 billion in five-year notes yielding 3.35 percentage points over Treasuries;
-- $4.5 billion in 10-year notes yielding 3.45 percentage points over Treasuries; and
-- $2.5 billion in 30-year bonds yielding 3.65 percentage points over Treasuries.
The joint lead managers on the sale were Banc of America Securities, Citigroup Global Markets and JPMorgan.

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