GlaxoSmithKline Plc raised $8.75 billion in the U.S. investment-grade bond market as part of a global offering to help fund the spinoff of its consumer-health business, its biggest shake-up in more than two decades.
The U.K. drugmaker sold the debt in seven parts through subsidiaries GSK Consumer Healthcare Capital US LLC and GSK Consumer Healthcare Capital UK LLC, according to a person with knowledge of the matter. The longest portion of the offering, a 30-year security, yields 1.58 percentage points above Treasuries after initial discussions of around 1.9 percentage points, said the person, who asked not to be identified as ...
