Amgen Inc. (AMGN) sold $3 billion of bonds in the largest debt sale this month as borrowing costs for investment-grade companies fall to about the lowest this year. The world’s largest biotechnology firm sold five, 10- and 31-year debt, according to data compiled by Bloomberg. Proceeds are slated for general corporate purposes including debt repayment, buying back shares and quarterly dividends, the Thousand Oaks, California-based company said today in a regulatory filing. Amgen said in April it will start paying its first dividend after its cash hoard grew to $17.4 billion. Its shares have slumped 27 percent since the end of 2005. Yields on investment- grade debentures fell to 3.69 percent on June 24 from 3.73 percent on June 17, according to Bank of America Merrill Lynch index data. That’s within one basis point of this year’s low on June 1.
