Press Releases
March 23, 2011
Gilead Prices $1 Billion of Senior Unsecured Notes
FOSTER CITY, Calif., Mar 23, 2011 (BUSINESS WIRE) -- Gilead Sciences, Inc. (Nasdaq: GILD), a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need, today announced the pricing of senior unsecured notes in an aggregate principal amount of $1 billion, in an underwritten, registered public offering. The notes will mature on April 1, 2021, and will bear interest at an annual rate of 4.5 percent. The offering is expected to close March 30, 2011, subject to customary closing conditions.
This offering follows the recent completion of the ratings process by Standard & Poor's and Moody's. Standard & Poor's has assigned the notes a rating of A-. Moody's has assigned the notes a rating of Baa1.
Gilead intends to use the net proceeds from this offering for general corporate purposes, which may include the repayment of certain indebtedness and the repurchase of outstanding common stock pursuant to the company's authorized share repurchase program.
Bank of America Merrill Lynch, J.P. Morgan and Morgan Stanley acted as joint book-running managers for the offering. The offering of the securities is being made only by means of a prospectus supplement and the accompanying base prospectus, which is filed as part of Gilead's effective shelf registration statement on Form S-3 (File No. 333-173006), copies of which may be obtained from:
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Merrill Lynch, Pierce, |
J. P. Morgan Securities |
Morgan Stanley & Co. | ||||||||
| 100 West 33rd Street |
383 Madison Avenue |
180 Varick Street | ||||||||
| New York, NY 10001 |
New York, NY 10179 |
New York, NY 10014 | ||||||||
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Attention: Prospectus |
Attention: Investment |
Attention: Prospectus | ||||||||
| 800 294 1322 |
212 834 4533 |
866 718 1649 |
An electronic copy of the prospectus supplement and the accompanying base prospectus may also be obtained at no charge at the Securities and Exchange Commission's website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Gilead Sciences
Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The company's mission is to advance the care of patients suffering from life-threatening diseases worldwide. Headquartered in Foster City, California, Gilead has operations in North America, Europe and Asia Pacific.
Forward-Looking Statement
This press release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks, uncertainties and other factors, including the current market demand for these types of securities and the securities of Gilead and the negotiations between Gilead and the underwriters. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Other risks that could impact the offering are described in detail in Gilead's Annual Report on Form 10-K for the year ended December 31, 2010 as filed with the U.S. Securities and Exchange Commission, and may be updated by the risk factors set forth in any subsequent filing by Gilead with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to Gilead and Gilead assumes no obligation to update any such forward-looking statements.
SOURCE: Gilead Sciences, Inc.
Gilead Sciences, Inc.
Susan Hubbard, 650-522-5715 (Investors)
Amy Flood, 650-522-5643 (Media)