DEERFIELD, Ill. — Walgreens on Monday announced that it has priced an underwritten public offering of senior notes, the net proceeds from which will be used to repay — in full — money that was borrowed to fund the cash consideration in its acquisition of a 45% stake in Alliance Boots and for general corporate purposes, including its previously announced USA Drug acquisition.
The senior notes consist of:
$550 million of floating rate notes due 2014;
$750 million of 1% notes due 2015;
$1 billion of 1.8% notes due 2017;
$1.2 billion of 3.1% notes due 2022; and
$500 million of 4.4% notes due 2042.
The sale of the notes is expected to close on Sept. 13.
The joint book-running managers for the offering are Goldman Sachs, Merrill Lynch, Pierce, Fenner & Smith, J.P. Morgan Securities, Morgan Stanley and Wells Fargo Securities.