FLORHAM PARK, N.J.--(BUSINESS WIRE)--Zoetis Inc. (NYSE:ZTS) announced today that it has agreed to sell $1.25 billion of senior notes: $500,000,000 in aggregate principal amount of 3.450% senior notes due 2020 and $750,000,000 in aggregate principal amount of 4.500% senior notes due 2025, in an underwritten public offering.
Zoetis intends to use the net proceeds to repay amounts drawn under its revolving credit facility, which were borrowed to fund the purchase price for the acquisition of PHARMAQ; to repay the principal when due of its 1.150% senior notes due 2016 in the aggregate principal amount of $400 million; and for general corporate purposes. The offering is expected to close on November 13, 2015, subject to customary closing conditions.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers of the underwriters. The final prospectus supplement and accompanying prospectus, when available, may be accessed through the SEC's website at www.sec.gov. Alternatively, the issuer, the underwriters or any dealer participating in the offering will arrange to send you the prospectus and prospectus supplement if you request it by calling BofA Merrill Lynch at 1-800-294-1322, Barclays at 1-888-603-5847, Citigroup at 1-800-831-9146 and J.P. Morgan at 212-834-4533.
These securities are offered pursuant to a registration statement that has become effective under the Securities Act of 1933, as amended. These securities are only offered by means of the prospectus supplement and prospectus relating to the offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of these securities in any state or other jurisdiction, where the offer, solicitation or sale of these securities would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Zoetis (zô-EH-tis) is the leading animal health company, dedicated to supporting its customers and their businesses. Building on more than 60 years of experience in animal health, Zoetis discovers, develops, manufactures and markets veterinary vaccines and medicines, complemented by diagnostic products and genetic tests and supported by a range of services. In 2014, the company generated annual revenue of $4.8 billion. With approximately 10,000 employees worldwide at the beginning of 2015, Zoetis serves veterinarians, livestock producers and people who raise and care for farm and companion animals with sales of its products in 120 countries.
Forward-Looking Statements: This press release contains forward-looking statements, which reflect the current views of Zoetis with respect to business plans or prospects, future operating or financial performance, expectations regarding products, future use of cash and dividend payments, and other future events. These statements are not guarantees of future performance or actions. Forward-looking statements are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if management's underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. Zoetis expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in the prospectus supplement and accompanying prospectus under the caption "Risk Factors" and in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014, including in the sections thereof captioned "Forward-Looking Information and Factors That May Affect Future Results" and "Item 1A. Risk Factors," in our Quarterly Reports on Form 10-Q and in our Current Reports on Form 8-K. These filings and subsequent filings are available online at www.sec.gov, Zoetis's website, or on request from Zoetis.