Pfizer Inc. priced its tender offer to buy back its outstanding €2 billion 5.750% notes due 2021.
The cash offer price is €1,208.34, with a yield of -0.285%, payable in cash per each €1,000 principal amount of the 2021 notes. The cash offer includes €30 of consent payment as part of the solicitation of consents by the company to shorten the redemption period of the notes.
The company said as of 5 p.m. ET Dec. 20, €834 million, or about 41.7%, of the principal amount of the outstanding 2021 notes were bought back.
Pfizer said the tender offer will expire at 11:59 p.m. ET on Jan. 5, 2018, and the final settlement date is expected by Jan. 10, 2018.
