Global Biz
Drugmaker Novartis announces $5b bond issue
(Agencies)
Updated: 2010-03-10 15:38
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BASEL, Switzerland?- Swiss drugmaker Novartis AG announced Wednesday a $5 billion bond issue to finance its purchase of eye-care company Alcon Inc.
The pharmaceuticals company said the notes will be issued in three parts by its US subsidiary Novartis Capital Corporation.
"Proceeds will be used for intercompany refinancing purposes in connection with the pending Alcon acquisition, as well as for general corporate purposes," Novartis said in a statement.
