Bristol Myers Squibb Prices $6 Billion of Senior Unsecured Notes

Bristol-Myers Squibb Company (NYSE:BMY) today announced that it has priced a public offering (the "Offering") of senior unsecured notes in a combined aggregate principal amount of $6 billion (collectively, the "Notes"). The Notes will be issued in four tranches: (i) $1,750,000,000 in aggregate principal amount of 2.950% notes due 2032, (ii) $1,250,000,000 in aggregate principal amount of 3.550% notes due 2042, (iii) $2,000,000,000 in aggregate principal amount of 3.700% notes due 2052, and (iv) $1,000,000,000 in aggregate principal amount of 3.900% notes due 2062. Bristol Myers Squibb expects that the closing of the Offering will occur on March 2, 2022, subject to the satisfaction of customary closing conditions.

Concurrently with this offering, we commenced a tender offer (the "Tender Offer") to purchase, for cash, various series of our outstanding notes (the "Tender Offer Notes"). We intend to use the net proceeds of this offering (i) to fund the Tender Offer, (ii) to pay fees and expenses in connection therewith and this Offering, (iii) to fund the repayment of outstanding debt upon maturity or earlier redemption and (iv) to the extent of any remaining proceeds, for general corporate purposes. This offering is not contingent on the consummation of the Tender Offer or the purchase of any of the Tender Offer Notes in connection therewith.

BofA Securities, Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, and Wells Fargo Securities, LLC are acting as joint book-running managers for the Offering.

The Offering of the Notes is being made pursuant to an effective shelf registration statement (including a prospectus and preliminary prospectus supplement) (File No. 333-261623) filed with the U.S. Securities and Exchange Commission (the "SEC"). You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov . Alternatively, Bristol Myers Squibb, any underwriter or any dealer participating in the Offering will arrange to send you the prospectus and the preliminary prospectus supplement (or, if available, the prospectus supplement) if you request it by contacting Bristol Myers Squibb Investor Relations or BofA Securities, Inc. at Attn: Prospectus Department, 200 North College Street, 3rd floor, Charlotte, North Carolina 28255-0001, by email at dg.prospectus_requests@bofa.com or by telephone at 1-800-294-1322, Deutsche Bank Securities Inc. at Attn: Prospectus Department, 60 Wall Street, New York, New York 10005, by email at prospectus.cpdg@db.com or by telephone at 1-800-503-4611, Goldman Sachs & Co. LLC at Attn: Prospectus Department, 200 West Street, New York, New York 10282-2198, by email at prospectus-ny@ny.email.gs.com , or by telephone at 1-866-471-2526, or Wells Fargo Securities, LLC at Attn: WFS Customer Service, 608 2nd Avenue South, Suite 1000, Minneapolis, Minnesota 55402, by email at wfscustomerservice@wellsfargo.com , or by telephone at 1-800-645-3751.

This press release shall not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, the Notes or any other security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful.

Cautionary Notes on Forward Looking Statements

This press release contains forward-looking statements 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. You can generally identify forward-looking statements by the use of forward-looking terminology such as "should," "could," "expect," "anticipate," "estimate," "target," "may," "project," "guidance," "intend," "plan," "believe," "will" and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance, although not all forward-looking statements contain such terms. One can also identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements are likely to relate to, among other things, statements about the expected timing of completion of the Offering and the intended use of proceeds from the proposed Offering and are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes to differ materially from current expectations. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect the Bristol Myers Squibb's business and market, particularly those identified in the cautionary statement and risk factors discussion in the Bristol Myers Squibb's Annual Report on Form 10-K for the year ended December 31, 2021, as updated by Bristol Myers Squibb's subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the SEC. The forward-looking statements included in this press release are made only as of the date of this document and except as otherwise required by applicable law, Bristol Myers Squibb's undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn , Twitter , YouTube , Facebook , and Instagram .

Corporatefinancial-news

For more information, contact:  
Media: media@bms.com
Investors: investor.relations@bms.com

News Provided by Business Wire via QuoteMedia

BMY
The Conversation (0)
Corporate Employers Accused of Increasing Risk Of Pension Shortfalls in Violation of Employee Retirement Income Security Act of 1974

Corporate Employers Accused of Increasing Risk Of Pension Shortfalls in Violation of Employee Retirement Income Security Act of 1974

Lawsuits have been filed alleging that a number of large corporate employers have offloaded billions of dollars in pension obligations to Athene Annuity and Life Company andor Athene Annuity & Life Assurance Company of New York, subsidiaries of Athene Holding Ltd. (collectively, "Athene") in violation of ERISA. In addition to AT&T Inc. (NYSE: T), Lockheed Martin Corporation (NYSE: LMT), and Alcoa Corporation (NYSE: AA), against which lawsuits have already been filed, according to SEC filings andor Athene's public statements, Bristol-Myers Squibb Company (NYSE: BMY), Armstrong World Industries, Inc. (NYSE: AWI), ATI, Inc. (NYSE: ATI), Weyerhaeuser Company (NYSE: WY), and General Electric (NYSE: GE) have offloaded pension obligations to Athene.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Bristol Myers Squibb Reports First Quarter Financial Results for 2023

Bristol Myers Squibb Reports First Quarter Financial Results for 2023

  • Reports First Quarter Revenues of $11.3 Billion
  • Posts First Quarter GAAP Earnings Per Share of $1.07 and Non-GAAP EPS of $2.05; Includes Net Impact of ($0.01) Per Share for GAAP and Non-GAAP EPS Due to Acquired IPRD Charges and Licensing Income
  • Delivers Strong Revenue Growth of 8% from In-Line Products and New Product Portfolio; or 10% When Adjusted for Foreign Exchange
  • Further Advances Portfolio Renewal Strategy, Achieving Important Milestones Across Therapeutic Areas
  • Adjusts GAAP 2023 EPS Guidance; Affirms Non-GAAP Financial Guidance for 2023

Bristol Myers Squibb (NYSE:BMY) today reports results for the first quarter of 2023, which reflect robust in-line and new product portfolio growth, strong commercial execution and continued advancement of the product pipeline.

"Our strong execution resulted in double-digit revenue growth for our in-line products and new product portfolio," said Giovanni Caforio, M.D. , board chair and chief executive officer, Bristol Myers Squibb. "We continue to successfully execute against our key strategic priorities and meaningfully advance our portfolio renewal strategy, achieving important regulatory and clinical milestones that will benefit patients with serious unmet needs. We remain focused on commercial execution, progressing our pipeline and leveraging our strong financial foundation to invest in the next wave of innovation and deliver value to all of our stakeholders."

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Bristol Myers Squibb Announces Leadership Transition Plan

Bristol Myers Squibb Announces Leadership Transition Plan

Giovanni Caforio, MD, Bristol Myers Squibb Chairman and CEO, to Retire as CEO, Effective November 1, 2023; Will Continue as Executive Chairman of the Board

Christopher Boerner, PhD, EVP, Chief Commercialization Officer, Appointed EVP, Chief Operating Officer, Effective Immediately; to Succeed Giovanni Caforio, MD, as CEO, Effective November 1, 2023

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Bristol Myers Squibb Receives Positive CHMP Opinion Recommending Approval for CAMZYOS®  for the Treatment of Symptomatic Obstructive Hypertrophic Cardiomyopathy

Bristol Myers Squibb Receives Positive CHMP Opinion Recommending Approval for CAMZYOS® for the Treatment of Symptomatic Obstructive Hypertrophic Cardiomyopathy

If approved, CAMZYOS would be the first cardiac myosin inhibitor in Europe that specifically targets the source of obstructive HCM

Recommendation based on positive Phase 3 EXPLORER-HCM and VALOR-HCM trials demonstrating benefit in patients receiving CAMZYOS versus placebo

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Bristol Myers Squibb Strengthens Cell Therapy Capabilities by Adding New U.S. Manufacturing Facility for Viral Vector Production

Bristol Myers Squibb Strengthens Cell Therapy Capabilities by Adding New U.S. Manufacturing Facility for Viral Vector Production

Libertyville, Illinois facility bolsters long-term viral vector supply with multi-product, in-house viral vector production capabilities

Bristol Myers Squibb (NYSE: BMY) today announced expansion of its global cell therapy manufacturing network to enable in-house viral vector production through a U.S.-based manufacturing facility and its operations in Libertyville, Illinois, following the company's execution of an agreement with Novartis. The facility and its operations have capabilities to produce viral vector for both of Bristol Myers Squibb's CAR T cell therapies. This development advances the company's long-term ambitions in cell therapy.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

AMGEN ANNOUNCES 2025 FIRST QUARTER DIVIDEND

Amgen (NASDAQ:AMGN) today announced that its Board of Directors declared a $2.38 per share dividend for the first quarter of 2025. The dividend will be paid on March 7, 2025 to all stockholders of record as of the close of business on February 14, 2025 .

About Amgen
Amgen discovers, develops, manufactures and delivers innovative medicines to help millions of patients in their fight against some of the world's toughest diseases. More than 40 years ago, Amgen helped to establish the biotechnology industry and remains on the cutting-edge of innovation, using technology and human genetic data to push beyond what's known today. Amgen is advancing a broad and deep pipeline that builds on its existing portfolio of medicines to treat cancer, heart disease, osteoporosis, inflammatory diseases and rare diseases.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
CLEO Further Expands Ovarian Cancer Trial with Siles Health

CLEO Further Expands Ovarian Cancer Trial with Siles Health

Cleo Diagnostics (COV:AU) has announced CLEO Further Expands Ovarian Cancer Trial with Siles Health

Download the PDF here.

BLINCYTO® ADDED TO CHEMOTHERAPY SIGNIFICANTLY IMPROVES SURVIVAL IN NEWLY DIAGNOSED PEDIATRIC PATIENTS WITH B-CELL PRECURSOR ACUTE LYMPHOBLASTIC LEUKEMIA

Phase 3 Study Results Demonstrated Three Year, Disease-Free Survival of 96%

Amgen (NASDAQ:AMGN) today announced new data demonstrating that adding BLINCYTO ® (blinatumomab) to chemotherapy significantly improves disease-free survival (DFS) in newly diagnosed pediatric patients with National Cancer Institute (NCI) standard risk (SR) B-cell acute lymphoblastic leukemia (B-ALL) of average or higher risk of relapse. The data are from a Phase 3 study (AALL1731) conducted by the Children's Oncology Group. The results were simultaneously published in the New England Journal of Medicine and will be presented during the plenary session on Sunday, Dec. 8 at 2 p.m. PT at the 66 th American Society of Hematology (ASH) Annual Meeting & Exposition in San Diego .

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

AMGEN ANNOUNCES $1 BILLION MANUFACTURING EXPANSION IN NORTH CAROLINA

Investment Establishes Second Facility in Holly Springs ; Builds on Previous $550M Commitment

Amgen (NASDAQ: AMGN) today announced a $1 billion expansion to establish a second drug substance manufacturing facility in North Carolina . This brings the company's total planned investment in Holly Springs to more than $1.5 billion building on its previously announced $550 million commitment.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×