Simpson Thacher Represents Initial Purchasers in $5 Billion Notes Offering by Roche
03.14.22
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Simpson Thacher represented the initial purchasers in connection with an offering of Notes by Roche Holdings, Inc. (“Roche”). The offering consisted of a Rule 144A and Regulation S offering of U.S.$1.25 billion aggregate principal amount of 1.882% notes due 2024, U.S.$1 billion aggregate principal amount of 2.132% notes due 2025, U.S.$1.25 billion aggregate principal amount of 2.314% notes due 2027, U.S.$750 million aggregate principal amount of floating rate notes due 2023 and U.S.$750 million aggregate principal amount of floating rate notes due 2025 (together, the “Notes”). The offering closed on March 10, 2021. The net proceeds from the issue of the Notes will be used to repay certain amounts drawn under its senior bridge facilities that were used in connection with the repurchase of shares from Novartis Holding AG and for general corporate purposes. Roche is the world’s leading supplier of in vitro diagnostics, the world’s largest biotech company and the world’s leading provider of cancer treatments.
The Simpson Thacher team included Mark Brod, Melchor Alvarez de Mon and Julia Szinovatz (Capital Markets); Michael R. Isby, Vanessa Burrows and Tera Rule (Corporate); Alysha Sekhon, Bobbie Burrows and Mark Natividad (IP); and Jonathan Cantor and Lina Pan (Tax).