Pfizer holders tender $1.94 billion of 6.2% notes due 2019 in offer

By Susanna Moon

Chicago, Nov. 21 – Pfizer Inc. said investors had tendered $1,944,082,000 of its $3.25 billion of outstanding 6.2% senior notes due March 15, 2019 in the offer that ended at 5 p.m. ET on Nov. 18.

The tendered amount includes $9,576,000 principal amount of notes under guaranteed delivery procedures, according to a company announcement.

As previously announced, the purchase price is $1,104.23 per $1,000 principal amount plus accrued interest up to but excluding the payment date of Nov. 21.

Pricing was set at 2 p.m. ET on Nov. 18 using the 1% U.S. Treasury notes due Nov. 15, 2019 plus 25 basis points for a reference yield of 1.348%.

Pfizer said it has accepted all of the tendered notes for purchase and that all of the tender conditions have been met.

Payment for notes delivered under the guaranteed delivery procedures will be made on Nov. 23.

The company said it plans to issue a make-whole call for any remaining notes.

Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106) is the dealer manager. Global Bondholder Services Corp. (866 470-4300 or 212 430-3774) is the depositary and information agent.

Pfizer is a biopharmaceutical company based in New York.

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