Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Gilead Sciences, Inc.    GILD

GILEAD SCIENCES, INC.

(GILD)
  Report
Delayed Quote. Delayed Nasdaq - 10/30 04:00:00 pm
58.15 USD   -0.65%
10/29GLOBAL MARKETS LIVE: Big names today
10/29GILEAD SCIENCES : Announces Fourth Quarter 2020 Dividend
AQ
10/29GILEAD SCIENCES : Announces Third Quarter 2020 Financial Results
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Gilead Sciences : Prices $7.25 Billion of Senior Unsecured Notes

share with twitter share with LinkedIn share with facebook
09/24/2020 | 08:29am EDT

FOSTER CITY - Gilead Sciences, Inc. (Nasdaq: GILD) today announced the pricing of senior unsecured notes in an aggregate principal amount of $7.25 billion, in an underwritten, registered public offering, consisting of seven tranches.

$500 million of floating rate notes maturing in 2021 (the '2021 floating rate notes')

$500 million of floating rate notes maturing in 2023 (the '2023 floating rate notes' and together with the 2021 floating rate notes, 'the floating rate notes')

$2 billion of 0.75% senior notes maturing in 2023 (the '2023 fixed rate notes')

$750 million of 1.20% senior notes maturing in 2027 (the '2027 fixed rate notes')

$1 billion of 1.65% senior notes maturing in 2030 (the '2030 fixed rate notes')

$1 billion of 2.60% senior notes maturing in 2040 (the '2040 fixed rate notes')

$1.5 billion of 2.80% senior notes maturing in 2050 (the '2050 fixed rate notes')

The offering is expected to close September 30, 2020, subject to customary closing conditions.

As previously announced, Gilead entered into an Agreement and Plan of Merger with Immunomedics, Inc. ('Immunomedics') on September 13, 2020, pursuant to which Gilead will acquire Immunomedics. Under the terms of the agreement, a wholly-owned subsidiary of Gilead will promptly commence a tender offer to acquire all of the outstanding shares of Immunomedics' common stock at a price of $88.00 per share in cash. Following successful completion of the tender offer, Gilead will acquire all remaining shares not tendered in the offer through a second step merger at the same price as the tender offer. The consummation of the tender offer is subject to various conditions, including a minimum tender of at least a majority of outstanding Immunomedics shares, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and other customary conditions. The acquisition is anticipated to close in the fourth quarter of 2020.

Gilead intends to use (i) the net proceeds from the floating rate notes, the 2023 fixed rate notes, the 2030 fixed rate notes and the 2040 fixed rate notes to finance a portion of the cash consideration payable in connection with the acquisition and to pay related fees and expenses and (ii) the net proceeds from the offering of the 2027 fixed rate notes and 2050 fixed rate notes to repay $1,000 million in aggregate principal amount of its 4.50% Senior Notes due 2021 and $1,250 million in aggregate principal amount of its 4.40% Senior Notes due 2021. If the acquisition is terminated or otherwise not consummated on or before September 13, 2021, Gilead will be required to redeem the floating rate notes, the 2023 fixed rate notes, the 2030 fixed rate notes and the 2040 fixed rate notes at a redemption price equal to 101% of the principal amount of such notes, plus accrued and unpaid interest. The closing of the offering is not contingent on the closing of the tender offer or the acquisition.

Barclays Capital Inc. and Wells Fargo Securities are acting as lead joint book-running managers in the offering.

Contact:

Edgewood

Tel: (888) 603-5874

Email: barclaysprospectus@broadridge.com

An electronic copy of the prospectus supplement and the accompanying base prospectus may also be obtained at no charge at the U.S. Securities and Exchange Commission's website at http://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 state or jurisdiction.

About Gilead Sciences

Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in areas of unmet medical need. The company strives to transform and simplify care for people with life-threatening illnesses around the world. Gilead has operations in more than 35 countries worldwide, with headquarters in Foster City, California.

Forward-Looking Statements

This press release includes forward-looking statements that are subject to risks, uncertainties and other factors, including the current market demand for these types of securities and the securities of Gilead, Gilead's ability to consummate the offering in the currently anticipated timeframe or at all, the negotiations between Gilead and the underwriters, filings and approvals relating to the acquisition, the ability to complete the tender offer and the acquisition in a timely manner or at all, and adverse impacts on business, operating results or financial condition in the future due to pandemics, epidemics or outbreaks, such as COVID-19. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements that address future business, operating or financial performance or Gilead's strategies or expectations are forward-looking statements. The reader is cautioned not to rely on these forward-looking statements.

These and other risks that could impact the offering are described in detail in Gilead's Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, 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.

(C) 2020 Electronic News Publishing, source ENP Newswire


Stocks mentioned in the article
ChangeLast1st jan.
GILEAD SCIENCES, INC. -0.65% 58.15 Delayed Quote.-10.51%
IMMUNOMEDICS, INC. 0.05% 87.86 End-of-day quote.315.22%
share with twitter share with LinkedIn share with facebook
All news about GILEAD SCIENCES, INC.
10/29GLOBAL MARKETS LIVE: Big names today
10/29GILEAD SCIENCES : Announces Fourth Quarter 2020 Dividend
AQ
10/29GILEAD SCIENCES : Announces Third Quarter 2020 Financial Results
AQ
10/29NEWS HIGHLIGHTS : Top Company News of the Day
DJ
10/29NEWS HIGHLIGHTS : Top Company News of the Day
DJ
10/29GILEAD SCIENCES : cuts 2020 sales outlook as COVID-19 drug remdesivir falls shor..
RE
10/28NEWS HIGHLIGHTS : Top Company News of the Day
DJ
10/28NEWS HIGHLIGHTS : Top Company News of the Day
DJ
10/28Gilead Quarterly Revenue Rises on Remdesivir Sales -- Update
DJ
10/28NEWS HIGHLIGHTS : Top Company News of the Day
DJ
More news
Financials (USD)
Sales 2020 23 690 M - -
Net income 2020 424 M - -
Net Debt 2020 19 768 M - -
P/E ratio 2020 107x
Yield 2020 4,63%
Capitalization 72 904 M 72 904 M -
EV / Sales 2020 3,91x
EV / Sales 2021 3,66x
Nbr of Employees 11 800
Free-Float 99,7%
Chart GILEAD SCIENCES, INC.
Duration : Period :
Gilead Sciences, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GILEAD SCIENCES, INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 74,21 $
Last Close Price 58,15 $
Spread / Highest target 80,6%
Spread / Average Target 27,6%
Spread / Lowest Target -0,26%
EPS Revisions
Managers
NameTitle
Daniel P. O'Day Chairman & Chief Executive Officer
Andrew D. Dickinson Chief Financial Officer
William A. Lee Executive Vice President-Research
Merdad V. Parsey Chief Medical Officer
George Pratt Shultz Director-Emeritus
Sector and Competitors
1st jan.Capitalization (M$)
GILEAD SCIENCES, INC.-10.51%72 904
REGENERON PHARMACEUTICALS44.76%57 199
VERTEX PHARMACEUTICALS-4.84%54 210
WUXI APPTEC CO., LTD.71.31%40 863
BEIGENE, LTD.78.89%26 872
GENMAB A/S43.71%21 783