Novartis Raises $12 Billion Through Bond Market to Acquire Avidity

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2026-03-17 06:28:25

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Investing.com – Novartis is issuing investment-grade U.S. dollar bonds to help finance its $12 billion acquisition of Avidity Biosciences Inc.

According to company documents, this Swiss pharmaceutical company’s subsidiary is issuing bonds with eight different maturities, ranging from 3 to 30 years. The proceeds will be used to repay bridge loans obtained on February 26 for acquisition financing.

Bloomberg reported on Monday that the initial price guidance for the longest-term bond (maturing in 2056) was about 1.2 percentage points above U.S. Treasuries.

BNP Paribas, Citigroup, Deutsche Bank, J.P. Morgan, and Mizuho Financial Group are managing the issuance.

Novartis agreed to acquire Avidity last October as part of its core-focused innovative drug strategy, including cardiovascular, renal, and metabolic drugs, immunology, neuroscience, and oncology. The deal was completed last month.

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