AstraZeneca announced it has issued $6.9 billion in bonds on the U.S. market, planning to use the proceeds to retire a chunk of the short-term debt it took on for the $15 billion MedImmune buyout. Its interest rates range from 6.45 percent on 30-year fixed-rate notes to 5.4 percent on 5-year fixed notes.
With a total of $13 billion in commercial paper, the company will still have several billions to convert to long-term debt. Today, the company named three banking advisors--Citigroup, Deutsche Bank, and HSBC--to explore an additional bond issue in Europe.
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