Roche Sells $5.5 Billion of Bonds to Fund Telavant Buyout (2)

Roche Holding AG sold investment-grade debt in the US corporate bond market on Monday to help fund its acquisition of Telavant Holdings Inc.

The Swiss pharmaceutical giant marketed the $5.5 billion deal in five parts, with pricing on the longest-dated portion — a 10-year note — yielding 95 basis points over the benchmark rate, after initial discussions of 115 to 120 basis points, according to a person familiar with the matter.

The company earmarked the sale proceeds for general corporate purposes, including to fund a portion of its Telavant acquisition, as well as refinancing, dividend payments and potential ...