Eli Lilly and Company Enters Underwriting Agreement for the Issuance of Various Notes

On February 10, 2025, Eli Lilly and Company (NYSE: LLY) finalized an underwriting agreement with Barclays Capital Inc., BofA Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., and Goldman Sachs & Co. LLC. The agreement pertains to the issuance and sale of several types of notes by the company.

The agreement outlines the issuance of $1 billion aggregate principal amount of 4.550% Notes due 2028, $1.25 billion aggregate principal amount of 4.750% Notes due 2030, $1 billion aggregate principal amount of 4.900% Notes due 2032, $1.25 billion aggregate principal amount of 5.100% Notes due 2035, $1.25 billion aggregate principal amount of 5.500% Notes due 2055, and $750 million aggregate principal amount of 5.600% Notes due 2065. Collectively referred to as the “Notes,” each series was issued under an Indenture dated February 1, 1991, between Eli Lilly and Company and Deutsche Bank Trust Company Americas.

Upon the closing of the offering of these Notes on February 12, 2025, Eli Lilly and Company received net proceeds of approximately $6.46 billion after deducting underwriting discounts and before subtracting estimated offering expenses. The company has the option to redeem the Notes either in full or in part at its discretion, adhering to the terms and conditions specified in the respective Notes.

In the event of a default, the principal amount of the Notes may be declared immediately due and payable. The specific terms, interest rates, and maturity dates of each series of Notes have been outlined in the agreement.

Interested parties can refer to the full details of the Underwriting Agreement, Indenture, and specific forms of the Notes in the company’s recent filing with the Securities and Exchange Commission.

This news reflects a strategic financial move by Eli Lilly and Company, positioning itself for continued growth and stability in the market.

Please note that the information provided above is a summary and is encouraged to be read in conjunction with the complete filing available on the SEC’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Eli Lilly and Company’s 8K filing here.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.