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Pfizer prices private exchange offer

Pfizer Inc. gave the pricing terms of its private offers to exchange and repurchase its outstanding £1.5 billion 6.500% notes due 2038.

The exchange offer has a total exchange price of £1,650.97 based on an exchange offer yield of 2.410% plus principal amount of new notes per each £1,000 principal amount of the old notes.

The new notes will mature June 15, 2043 and will bear per annum interest rate of 2.735%.

Meanwhile, the cash offer price is £1,650.97, with a yield of 2.410%, payable in cash per each £1,000 principal amount of the old notes.

The exchange and cash offer expired 5:00 p.m. New York time Dec. 14, with settlement date expected to be Dec. 19.