Drug maker Novartis announces $5 bn bond issue

Drug maker Novartis announces $5 bn bond issue
AP
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First Published: Wed, Mar 10 2010. 05 48 PM IST
Updated: Wed, Mar 10 2010. 05 48 PM IST
Basel, Switzerland: Swiss drug maker Novartis AG announced Wednesday a $5 billion bond issue to finance its purchase of eye-care company Alcon Inc.
The pharmaceuticals company said the notes will be issued in three parts by its US subsidiary Novartis Capital Corporation.
“Proceeds will be used for intercompany refinancing purposes in connection with the pending Alcon acquisition, as well as for general corporate purposes,” Novartis said in a statement.
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First Published: Wed, Mar 10 2010. 05 48 PM IST