TITLE

Eli Lilly Breaks The Repatriation Ice

AUTHOR(S)
French, Jeff
PUB. DATE
August 2005
SOURCE
Investment Dealers' Digest;8/22/2005, Vol. 71 Issue 33, p28
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that Eli Lilly & Co. has finally broke the ice in the term debt market earlier in August 2005, completing a $1.5 billion extendible notes transaction through Deutsche Bank, Goldman Sachs & Co. and Merrill Lynch & Co. Inc. The terms Eli Lilly was able to achieve might attract the attention of some companies considering the bank route, however. It placed $1.5 billion of five-year extendible floating-rate notes in the Rule 144A market on August 4. Lilly could not have achieved bank financing anywhere at this level, and the structure offers the pharmaceutical giant plenty of call flexibility.
ACCESSION #
18014219

 

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