Walgreens announces pricing of senior notes

9/11/2012

DEERFIELD, Ill. — Walgreens on Monday announced that it has priced an underwritten public offering of senior notes, the net proceeds from which will be used to repay — in full — money that was borrowed to fund the cash consideration in its acquisition of a 45% stake in Alliance Boots and for general corporate purposes, including its previously announced USA Drug acquisition.


The senior notes consist of:




  • $550 million of floating rate notes due 2014;




  • $750 million of 1% notes due 2015;




  • $1 billion of 1.8% notes due 2017;




  • $1.2 billion of 3.1% notes due 2022; and




  • $500 million of 4.4% notes due 2042.




The sale of the notes is expected to close on Sept. 13.


The joint book-running managers for the offering are Goldman Sachs, Merrill Lynch, Pierce, Fenner & Smith, J.P. Morgan Securities, Morgan Stanley and Wells Fargo Securities.

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