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Pfizer closes $5B debt offering

Pfizer Inc. completed a $5 billion debt offering, according to a March 11 filing.

The New York-based pharmaceutical giant offered $500 million of 2.80% notes due 2022, $750 million of 2.95% notes due 2024, $1.75 billion of 3.45% notes due 2029, $750 million of 3.90% notes due 2039 and $1.25 billion of 4% notes due 2049.

Pfizer intends to use the net proceeds for repaying existing debt and a portion of its outstanding commercial paper as well as for other general corporate purposes.

Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC served as joint book-running managers for the debt offering.