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Pfizer closes $5B debt offering

Pfizer Inc. said it completed a public debt offering of $5.0 billion, comprising six tranches of notes.

The notes offered included $300 million of floating rate notes due 2023, $1 billion of 3.000% notes due 2021 and $1 billion of 3.200% notes due 2023.

The New York-based pharmaceutical giant also offered $1 billion of 3.600% notes due 2028, $700 million of 4.100% notes due 2038 and $1 billion of 4.200% notes due 2048.

Pfizer plans to use the net proceeds from the offering for general corporate purposes, including to refinance, redeem or repurchase existing debt and to repay a portion of its outstanding commercial paper.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Merrill Lynch Pierce Fenner & Smith Inc. and Morgan Stanley & Co. LLC served as joint book-running managers for the offering.