Loan & DebtMay 20, 2026, 04:38 PM
Eli Lilly Completes $9B Debt Offering
AI Summary
Eli Lilly and Company completed a debt offering totaling $9 billion in aggregate principal amount, consisting of both floating and fixed-rate notes across various maturities. The net proceeds from the offering were approximately $8.94 billion, after deducting underwriting discounts. A portion of these notes are subject to a special mandatory redemption at 101% of principal if the Centessa Acquisition is not consummated by a specified date.
Key Highlights
- Eli Lilly completed an offering of notes totaling $9 billion in aggregate principal amount.
- Net proceeds from the offering amounted to approximately $8.94 billion.
- The offering included $750 million of Floating Rate Notes due 2028 at SOFR + 0.350%.
- It also included $500 million of Floating Rate Notes due 2029 at SOFR + 0.460%.
- Fixed Rate Notes included $750 million at 4.150% due 2029 and $1.5 billion at 4.375% due 2031.
- Further Fixed Rate Notes included $1.25 billion at 4.650% due 2033 and $1.5 billion at 4.850% due 2036.
- Long-term Fixed Rate Notes included $1.75 billion at 5.600% due 2056 and $1 billion at 5.700% due 2066.
- Specific notes are subject to mandatory redemption at 101% if the Centessa Acquisition is not consummated.
Price Impact
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