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Following its spin-off from Novartis on 4 October 2023, Sandoz, a global leader in generic pharmaceuticals and biosimilars, has successfully issued a €2 billion multi-tranche benchmark transaction, consisting of 3.5-, 6.5- and 10-year tranches. BNP Paribas acted as Joint Active Bookrunner.
The EUR transaction follows an inaugural CHF750 million bond offering, issued on 26 October 2023, comprising a 3-year and 8-year tranche, and marking the largest transaction from a Corporate BBB-rated issuer in the CHF market since 2017. BNP Paribas acted as Joint Lead Manager.
❝ Congratulations to Sandoz on its successful first entries into the public debt markets. We are proud to accompany Sandoz as it writes the next chapter in its capital market story and to support our Swiss clients across the various bonds markets. ❞
Sandoz is a global leader in off-patent medicines, which account for 80% of medicines worldwide. Its purpose-driven strategy is to create high-quality, more affordable, and more accessible medicines when product patents expire. The company reaches circa 500 million patients every year in over 100 markets globally.
As an independent company, Sandoz will continue to build on its portfolio of circa 1,500 generic and biosimilar medicines, with focus on sustainable access.
Delf Egge, Co-Head Corporate Debt Capital Markets, DACH, commented: “Congratulations to Sandoz on its successful first entries into the public debt markets. We are proud to accompany Sandoz as it writes the next chapter in its capital market story and to support our Swiss clients across the various bonds markets.“
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