Hospira sells $500 million of 30-year bonds to redeem debt
Hospira Inc., the maker of generic injectable pharmaceuticals and infusion devices, sold $500 million of 30-year bonds, according to a person familiar with the transaction.
The debt yields 195 basis points more than similar-maturity Treasuries, said the person, who declined to be identified, citing lack of authorization to speak publicly on the offering. A basis point is 0.01 percentage point.
Hospira, based in Lake Forest, plans to use proceeds to redeem $500 million of outstanding 5.55 percent notes that are payable in March 2012, it said today in a regulatory filing.
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.