Simpson Thacher represented the underwriters, led by BofA Securities, Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC, in connection with an offering by Pfizer, Inc. of $1.25 billion in ten-year sustainability bonds, the first ever issued by a biopharmaceutical company.
Pfizer intends to allocate an amount equivalent to the net proceeds from the offering to finance or refinance, in whole or in part, one or more eligible projects that have environmental and/or social benefits, which will help to manage the company’s environmental impact and support increased patient access to Pfizer’s medicines and vaccines, especially among underserved populations, and strengthen healthcare systems.
The Simpson Thacher team included Joe Kaufman, Jonathan Ozner, Hyo Min Kim and Xochitl Romo (Capital Markets); Jon Cantor and Brian Mendick (Tax); Marcela Robledo (Intellectual Property); Jamin Koslowe (Executive Compensation and Employee Benefits); Adeeb Fadil and Noreen Lavan (Environmental); and Jennie Getsin (FINRA and Blue Sky).