Glaxo drinks deep with $9bn bond as US brims with cash

09 May 2008

It was another $30bn week in the all-guns-blazing US investment grade bond market, but the clear star of the show was the $9bn four tranche offering for UK pharmaceutical firm GlaxoSmithKline, which pulled a staggering $17.8bn of orders.

 

Launched to fund a share buyback programme, the deal broke several US dollar high grade records.

It was the largest corporate Yankee issue since British Telecom in 2000; the biggest corporate bond since WorldCom in 2001; and the largest ever corporate issue outside the telecom ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Oops, something went wrong

We're sorry but at the moment we can't load this data