Royalty Pharma Announces Pricing of $1.5 Billion of Senior Unsecured Notes

Core Viewpoint - Royalty Pharma plc has announced a $1.5 billion offering of senior unsecured notes, which will be used for general corporate purposes [1][2]. Group 1: Offering Details - The offering consists of three tranches: $500 million of 5.150% Notes due 2029, $500 million of 5.400% Notes due 2034, and $500 million of 5.900% Notes due 2054 [1]. - The notes will be guaranteed on a senior unsecured basis by Royalty Pharma Holdings Ltd, with the offering expected to close on June 10, 2024, subject to customary closing conditions [2]. Group 2: Underwriters and Managers - BofA Securities, Citigroup, J.P. Morgan, Morgan Stanley, and TD Securities are acting as joint lead bookrunning managers for the offering [3]. - Additional co-managers include DNB Markets, SMBC Nikko, SOCIETE GENERALE, US Bancorp, and several others [3]. Group 3: Company Overview - Royalty Pharma, founded in 1996, is the largest buyer of biopharmaceutical royalties and a significant funder of innovation in the biopharmaceutical industry [6]. - The company collaborates with various entities, including academic institutions and leading global pharmaceutical companies, and has a portfolio that includes royalties on over 35 commercial products [6].