Gilead Sells $7.25 Billion of Bonds to Fund Immunomedics Deal

Gilead Sciences Inc. sold $7.25 billion of bonds to help finance its $21 billion takeover of Immunomedics Inc., adding to what’s been a recent run for acquisition financing.

The longest portion of the seven-part deal is a 30-year security, which yields 1.4 percentage points above Treasuries, after initial discussions of around 1.65 percentage points, according to a person with knowledge of the matter, who asked not to be identified as the details are private.

All of the maturities, except for the seven- and 30-year tranches, have what’s known as a special mandatory redemption clauses, which allows Gilead to buy ...