NEW YORK – Roche said on Tuesday it has commenced a tender offer to purchase for cash a combined aggregate purchase price of up to $2 billion of certain notes.
The notes being purchased include 7 percent notes due 2039; 3.35 percent notes due 2024; 3.25 percent notes due 2023; 3 percent notes due 2025; 2.875 percent notes due 2021; and 5.25 percent senior notes due 2035. All notes are being offered by Roche except the 5.25 percent notes due 2035, which are being issued by Roche subsidiary Genentech.
The amounts to be purchased will be determined in accordance with the acceptance priority level determined by Roche. The amount of the 7 percent notes due 2039 will not exceed an aggregate purchase price of acceptance sublimit of $300 million, Roche said.
The offer will expire at 11:59 p.m. EDT on Dec. 17. JP Morgan Securities and Barclays Capital are the deal managers for the offer.