Summary by Moomoo AI
On February 7, 2024, Eli Lilly and Company, a pharmaceutical giant, announced the successful completion of a significant debt offering. The company entered into an underwriting agreement with major financial institutions including BofA Securities, Barclays Capital, Citigroup Global Markets, Deutsche Bank Securities, and Mizuho Securities USA. The offering comprised a total of $6 billion in notes with varying maturities ranging from 2027 to 2064 and interest rates from 4.500% to 5.100%. The transaction closed on February 9, 2024, with Eli Lilly netting approximately $6.45 billion after underwriting discounts and before offering expenses. The notes were issued under an existing indenture dated February 1, 1991. Eli Lilly has the option to redeem the notes at specified redemption prices and terms. The company specified that in the event of a default, the principal amount of the notes may become immediately due and payable.