Merck & Co Inc (MRK) 2023-1

CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
USD500.0005May-28Sr. UnsecuredA1A+-FixedTsyT+90 aT+57574.05%-599.91900
USD750.0007May-30Sr. UnsecuredA1A+-FixedTsyT+110 aT+8282 4.30%-599.88000
USD1,500.00010May-33Sr. UnsecuredA1A+-FixedTsyT+125 aT+1001004.50%099.91200
USD750.00020May-44Sr. UnsecuredA1A+-FixedTsyT+130 aT+1021024.90%-399.40300
USD1,500.00030May-53Sr. UnsecuredA1A+-FixedTsyT+145 aT+1201205.00%299.59900
USD1,000.00040May-63Sr. UnsecuredA1A+-FixedTsyT+160 aT+1351355.15%599.56300
Tranche Comments
5 yr: Book size: 2600; First Pay: 2023-11-17; Redemption: 2028-04-17; Registration: Registered; Comments: US$500m 4.05% cpn 5yr at 99.919, yld 4.068%. T+57bp. Par Call: 1m. Tax Call: No. PP: No. XD: No. LEI: 4YV9Y5M8S0BRK1RP0397; 7 yr: Book size: 2500; First Pay: 2023-11-17; Redemption: 2030-03-17; Registration: Registered; Comments: US$750m 4.30% cpn 7yr at 99.880, yld 4.32%. T+82bp. Par Call: 2m. Tax Call: No. PP: No. XD: No. LEI: 4YV9Y5M8S0BRK1RP0397; 10 yr: Book size: 5200; First Pay: 2023-11-17; Redemption: 2033-02-17; Registration: Registered; Comments: US$1.5bn 4.50% cpn 10yr at 99.912, yld 4.511%. T+100bp. Par Call: 3m. Tax Call: No. PP: No. XD: No. LEI: 4YV9Y5M8S0BRK1RP0397; 20 yr: Book size: 2300; First Pay: 2023-11-17; Redemption: 2043-11-17; Registration: Registered; Comments: US$750m 4.90% cpn 20yr at 99.403, yld 4.946%. T+102bp. Par Call: 6m. Tax Call: No. PP: No. XD: No. LEI: 4YV9Y5M8S0BRK1RP0397; 30 yr: Book size: 5100; First Pay: 2023-11-17; Redemption: 2052-11-17; Registration: Registered; Comments: US$1.5bn 5.00% cpn 30yr at 99.599, yld 5.026%. T+120bp. Par Call: 6m. Tax Call: No. PP: No. XD: No. LEI: 4YV9Y5M8S0BRK1RP0397; 40 yr: Book size: 4600; First Pay: 2023-11-17; Redemption: 2062-11-17; Registration: Registered; Comments: US$1bn 5.15% cpn 40yr at 99.563, yld 5.176%. T+135bp. Par Call: 6m. Tax Call: No. PP: No. XD: No. LEI: 4YV9Y5M8S0BRK1RP0397;
Deal Comments
Active Bookrunners: BNP(B&D) (30yr, 40yr) MOS, JPM(B&D) (10yr, 20yr), CTI(B&D) (5yr, 7yr). Passive Bookrunners: BAM, DEU, HSB, MIZ
Use of Proceeds
Repay indebtedness and general corporate purposes
Research
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