Sanofi follows Danaher's lead to tap recent bond through original pricing

Sanofi pharmaceutical laboratory research medicine from corp media gallery 575x375
By Mike Turner
06 Apr 2020

Sanofi, the French pharmaceutical company, followed the example of Danaher by reopening bonds that priced in the last few weeks. It raised another €500m on Monday, pricing well inside where it priced the original bonds at the end of March.

The A1/AA/AA rated company has tapped its new April 2025 and April 2030 bonds for €250m apiece, bringing the notes printed on March 24 up to €1bn each.

This time, spreads are much tighter. Sanofi paid 73bp over mid-swaps for the five year tap and 83bp for the 10 ...

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