|[May 12, 2014]
Pfizer Prices $4.5 Billion Debt Offering
NEW YORK --(Business Wire)--
Pfizer Inc. (NYSE:PFE) today announced the pricing of a debt offering
consisting of five tranches of notes:
$1,000,000,000 aggregate principal amount of 1.1% notes due 2017
$500,000,000 aggregate principal amount of floating rate notes due 2017
$1,500,000,000 aggregate principal amount of 2.1% notes due 2019
$1,000,000,000 aggregate principal amount of 3.4% notes due 2024
$500,000,000 aggregate principal amount of 4.4% notes due 2044
Pfizer intends to use the net offering proceeds for general corporate
purposes, including (i) pre-funding the repayment at maturity of the
€900 million outstanding of its 4.75% notes due December 2014 and (ii)
pre-funding a portion of its outstanding 5.35% notes due March 2015.
Pfizer may use funds that are not immediately needed for these purposes
to temporarily invest in short-term marketable securities or repay a
portion of its outstanding commercial paper.
The closing of the offering is expected to occur on May 15, 2014,
subject to satisfaction of customary closing conditions.
Merrill, Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital
Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are
acting as joint book-running managers for the offering.
The offering of these securities is being made only by means of a
prospectus. Copies may be obtained by calling Merrill, Lynch, Pierce,
Fenner & Smith Incorporated, at 1-800-294-1322, Barclays Capital Inc.,
at 1-888-603-5847, Deutsche Bank Securities Inc., at 1-800-503-4611 or
J.P. Morgan Securities LLC, at 212-834-4533.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the notes, nor wil there be any
sale of the notes in any jurisdiction in which such offer, solicitation,
or sale would be unlawful.
At Pfizer, we apply science and our global resources to bring therapies
to people that extend and significantly improve their lives. We strive
to set the standard for quality, safety and value in the discovery,
development and manufacture of health care products. Our global
portfolio includes medicines and vaccines as well as many of the world's
best-known consumer health care products. Every day, Pfizer colleagues
work across developed and emerging markets to advance wellness,
prevention, treatments and cures that challenge the most feared diseases
of our time. Consistent with our responsibility as one of the world's
premier innovative biopharmaceutical companies, we collaborate with
health care providers, governments and local communities to support and
expand access to reliable, affordable health care around the world. For
more than 150 years, Pfizer has worked to make a difference for all who
rely on us.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995
This press release contains forward-looking statements made within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements involve substantial risks and uncertainties.
We have tried, wherever possible, to identify such statements by using
words such as "will," "anticipate," "estimate," "expect," "project,"
"intend," "plan," "believe," "target," "forecast," "goal," "objective,"
"aim" and other words and terms of similar meaning, or by using future
dates in connection with any discussion of, among other things,
expectations regarding the completion of the notes offering and the use
of proceeds. A list and description of risks, uncertainties and other
matters can be found in our Annual Report on Form 10-K for the year
ended December 31, 2013 and in our Quarterly Report on Form 10-Q for the
quarterly period ended March 30, 2014, in each case including in the
sections thereof captioned "Forward-Looking Information and Factors That
May Affect Future Results" and "Risk Factors," in our Current Reports on
Form 8-K, and in the prospectus supplement and accompanying prospectus,
in each case including in the section thereof captioned "Risk Factors."
You should understand that it is not possible to predict or identify all
such factors. Consequently, you should not consider any such list to be
a complete set of all potential risks or uncertainties.
We cannot guarantee that any forward-looking statement will be realized,
although we believe we have been prudent in our plans and assumptions.
Achievement of anticipated results is subject to substantial risks,
uncertainties and inaccurate assumptions. Should known or unknown risks
or uncertainties materialize, or should underlying assumptions prove
inaccurate, actual results could vary materially from past results and
those anticipated, estimated or projected. You should bear this in mind
as you consider forward-looking statements. We undertake no obligation
to publicly update forward-looking statements, whether as a result of
new information, future events or otherwise. You are advised, however,
to consult any further disclosures we make on related subjects in our
Form 10-K, 10-Q and 8-K reports and our other filings with the
Securities and Exchange Commission.
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