BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

Pfizer Inc. (PFE)'s Zoetis Wins Strong Response for $3.65 Billion Debut Bond Sale


1/17/2013 8:03:04 AM

Pfizer unit Zoetis on Wednesday drew strong demand for its debut bond offering, a $3.65 billion four-part deal that attracted an order book of about $30 billion and allowed it to sharply tighten pricing from original guidance, according to market sources. The company, which develops and makes animal health medicines and vaccines, built the order book within hours of announcing the deal. That in turn allowed it to tighten guidance by 30-45 basis points from initial price guidance. "The response to this transaction seems to show that even though the underlying tone is cautious in the high-grade market, there is still demand for new names with a growth story," said one banker. A number of factors seem to have supported the Baa2/BBB- rated company's first ever bond offering. The deal comes at a time when Zoetis is in the process of finalizing a $2 billion initial public offering, expected to launch in the next few days and price before month-end, according to several sources. JP Morgan, BofA Merrill Lynch and Morgan Stanley are leading the offering.

Read at Reuters
Read at News Release

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->