NEW YORK--(BUSINESS WIRE)--
Bristol-Myers
Squibb Company (NYSE:BMY) announced today the pricing terms of its
previously announced cash tender offer for any and all of certain of its
outstanding debt securities.
The consideration for each series of notes is based on the applicable
reference yield plus a fixed spread, in each case as set forth in the
table below, and is payable to holders of the notes listed in the table
below who validly tendered and do not validly withdraw their notes on or
before 5:00 p.m., New York City time, on June 20, 2017. The reference
yields listed in the table were determined at 2:00 p.m., New York City
time, on June 20, 2017.
Title of Security
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CUSIP No.
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Principal Amount Outstanding
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Reference U.S. Treasury Security
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Reference U.S. Treasury Security
Yield
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Fixed Spread
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Consideration(1)
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5.875% Notes due November 15, 2036
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110122AP3
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$403,364,000
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3.000% due February 15, 2047
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2.747%
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80 bps
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$1,324.41
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6.125% Notes due May 1, 2038
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110122AQ1
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$277,594,000
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3.000% due February 15, 2047
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2.747%
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90 bps
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$1,359.65
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6.875% Debentures due August 1, 2097
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110122AC2
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$260,042,000
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3.000% due
February 15, 2047
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2.747%
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187.5 bps
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$1,474.85
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(1)
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Per $1,000 principal amount of notes that are tendered and accepted
for purchase.
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All payments for notes purchased will also include accrued and unpaid
interest on the principal amount of notes tendered up to, but not
including, the settlement date, which is currently expected to be June
23, 2017.
In accordance with the terms of the tender offer, the withdrawal date
will be 5:00 p.m., New York City time, on June 20, 2017. Tendered notes
may not be withdrawn after that time, except in certain limited
circumstances where additional withdrawal rights are required by law.
The tender offer is being conducted upon the terms and subject to the
conditions set forth in the Offer to Purchase, dated June 14, 2017, and
the related Letter of Transmittal and Notice of Guaranteed Delivery.
Bristol-Myers Squibb has retained Deutsche Bank Securities Inc. to serve
as dealer manager for the tender offer and has retained D.F. King & Co.,
Inc. to serve as tender agent and information agent for the tender offer.
Requests for documents relating to the tender offer may be directed to
D.F. King & Co., Inc. by telephone at (800) 334-0384, by email at bmy@dfking.com
or in writing at 48 Wall Street, 22nd Floor, New York, New York 10005.
Questions regarding the tender offer may be directed to Deutsche Bank
Securities Inc. at (866) 627-0391 (toll free) or (212) 250-2955
(collect). Copies of the Offer to Purchase, Letter of Transmittal and
Notice of Guaranteed Delivery are also available at the following web
address: www.dfking.com/bmy.
This press release is not a tender offer to purchase or a solicitation
of acceptance of a tender offer, which may be made only pursuant to the
terms of the Offer to Purchase. In any jurisdiction where the laws
require the tender offer to be made by a licensed broker or dealer, the
tender offer will be deemed made on behalf of Bristol-Myers Squibb by
Deutsche Bank Securities Inc., or one or more registered brokers or
dealers under the laws of such jurisdiction.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission
is to discover, develop and deliver innovative medicines that help
patients prevail over serious diseases. For more information about
Bristol-Myers Squibb, visit us at BMS.com
or follow us on LinkedIn,
Twitter,
YouTube
and Facebook.
Forward Looking Statements
This press release contains certain “forward-looking” statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended (the “Securities Act”) and Section 21E of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”). You can identify
these forward-looking statements by the fact they use words such as
“should,” “expect,” “anticipate,” “estimate,” “target,” “may,”
“project,” “guidance,” “intend,” “plan,” “believe” and others words and
terms of similar meaning and expression in connection with any
discussion of future operating or financial performance. You can also
identify forward-looking statements by the fact that they do not relate
strictly to historical or current facts. Such forward-looking statements
are based on current expectations and involve inherent risks and
uncertainties, including factors that could delay, divert or change any
of them, and could cause actual outcomes to differ materially from
current expectations. These statements are likely to relate to, among
other things, the Company’s goals, plans and projections regarding its
financial position, results of operations, cash flows, market position,
product development, product approvals, sales efforts, expenses,
performance or results of current and anticipated products and the
outcome of contingencies such as legal proceedings, and financial
results, which are based on current expectations that involve inherent
risks and uncertainties, including internal or external factors that
could delay, divert or change any of them in the next several years.
Such events and factors include, but are not limited to, those listed
under “Risk Factors” in the Company’s annual report on Form 10-K for the
year ended December 31, 2016, that the Company believes could cause
actual results to differ materially from any forward-looking statement.
Bristol-Myers Squibb undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170620006452/en/
Source: Bristol-Myers Squibb Company