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Pfizer Announces Completion of $13.5 Billion Debt Offering

Tuesday, March 24, 2009 - 10:30pm
EDT

(BUSINESS WIRE)--Pfizer today announced the successful completion of its offering of $13.5 billion of senior unsecured notes. The notes consist of:

  • $1.25 billion of floating rate notes due 2011
  • $3.50 billion of 4.45% notes due 2012
  • $3.00 billion of 5.35% notes due 2015
  • $3.25 billion of 6.20% notes due 2019
  • $2.50 billion of 7.20% notes due 2039.

Pfizer intends to use the net offering proceeds for general corporate purposes, including funding a portion of the purchase price of the proposed Wyeth acquisition and the refinancing of existing debt. Pfizer may also temporarily invest funds that are not immediately needed for these purposes in short-term marketable securities.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall there be any sale of the notes, in any jurisdiction in which any such offer, solicitation or sale would be unlawful.

Additional Information

In connection with the proposed acquisition of Wyeth, Pfizer will file with the SEC a Registration Statement on Form S-4 that will include a proxy statement of Wyeth that also constitutes a prospectus of Pfizer. Wyeth will mail the proxy statement/prospectus to its stockholders. Pfizer and Wyeth urge investors and security holders to read the proxy statement/prospectus regarding the proposed acquisition when it becomes available because it will contain important information. You may obtain copies of all documents filed with the SEC regarding this transaction, free of charge, at the SEC’s website (www.sec.gov). You may also obtain these documents, free of charge, from Pfizer’s website, www.pfizer.com, under the tab “Investors” and then under the tab “SEC Filings.” You may also obtain these documents, free of charge, from Wyeth’s website, www.wyeth.com, under the heading “Investor Relations” and then under the tab “Financial Reports/SEC Filings.” Pfizer, Wyeth and their respective directors, executive officers and certain other members of management and employees may be soliciting proxies from Wyeth stockholders in favor of the proposed acquisition. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the Wyeth stockholders in connection with the proposed acquisition will be set forth in the proxy statement/prospectus when it is filed with the SEC. You can find information about Pfizer’s executive officers and directors in its definitive proxy statement filed with the SEC on March 13, 2009. You can find information about Wyeth’s executive officers and directors in its definitive proxy statement filed with the SEC on March 14, 2008. The information contained in Pfizer’s or Wyeth’s websites is not incorporated by reference and does not constitute a part of this press release.

An electronic copy of the prospectus supplement relating to the offering of the notes is available on the SEC’s website at www.sec.gov.

Contact: 

Pfizer Inc
Media:
Joan Campion, 212-733-2798
or
Investors:
Suzanne Harnett, 212-733-8009