Eli Lilly Tapping Bond Market for Morphic Deal -- Market Talk

Dow Jones08-13

1239 ET - Eli Lilly turns to the bond market to help fund its planned $3.2 billion acquisition of biopharmaceutical company Morphic Holding. Eli Lilly says in an SEC filing that it's planning to raise an undisclosed amount in an offering of five series of notes. In addition to financing the Morphic deal, Eli Lilly says it may use some of the offering proceeds to repay commercial paper. Moody's rates the new senior unsecured notes A1, in line with Eli Lilly's senior unsecured long-term rating and the Prime-1 short-term rating, saying it expects the uptake of new products to drive strong organic earnings growth and rapid deleveraging over at least the next one to two years. (colin.kellaher@wsj.com)

(END) Dow Jones Newswires

August 12, 2024 12:39 ET (16:39 GMT)

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Eli Lilly says in an SEC filing that it's planning to raise...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0708995401.HKD","symbol_name":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2459363229","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2459363229","pubTimestamp":1723480740,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1239 ET - Eli Lilly turns to the bond market to help fund its planned $3.2 billion acquisition of biopharmaceutical company Morphic Holding. Eli Lilly says in an SEC filing that it's planning to raise an undisclosed amount in an offering of five series of notes. In addition to financing the Morphic deal, Eli Lilly says it may use some of the offering proceeds to repay commercial paper. Moody's rates the new senior unsecured notes A1, in line with Eli Lilly's senior unsecured long-term rating and the Prime-1 short-term rating, saying it expects the uptake of new products to drive strong organic earnings growth and rapid deleveraging over at least the next one to two years. 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