CSL has issued the longest-dated senior bond ever by an Australian or New Zealand corporate, financial or government borrower.
Blood products giant CSL has issued the longest-dated senior bond ever by an Australian or New Zealand corporate, financial or government borrower as part of its $US4 billion debt raise to help fund its acquisition of Vifor Pharma.
CSL chairman Brian McNamee and CEO Paul Perreault will no longer head the biotech giant when it’s 40-year loan is paid back.The $US4 billion is the largest single-currency debt capital markets transaction from an Australian or New Zealand corporation, according to a note from Citi. By 2062, CSL will be a very different company and neither CEO Paul Perreault, nor its respected chairman Dr Brian McNamee will be gracing the biotech’s halls.CSL had a bevvy of top-tier investment banks working on the deal, namely Bank of America, Citi, JPMorgan and HSBC.
The notes are expected to settle on April 27, and the Vifor transaction remains on track to complete by June.
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