Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Genentech (NYSE:DNA) formerly known as (NYSE:GNE) -- Ignore unavailable to you. Want to Upgrade?

To: tom pope who wrote (236)	2/18/2009 2:43:17 PM
From: tuck	Read Replies (1) \| Respond to of 250

>>Roche $16B Multi-Tranche Launched; Largest US Bond Deal Ever Last update: 2/18/2009 2:30:39 PM By Kellie Geressy Of DOW JONES NEWSWIRES NEW YORK(Dow Jones)--Roche Holdings AG (ROG.VX) launched the largest U.S. dollar denominated deal on record Wednesday. The Swiss pharmaceutical giant is planning to sell a combined $16 billion of debt, divided into six parts. This is the largest single deal ever sold in the U.S. corporate bond market, surpassing the $11.5 billion sold by France Telecom SA in 2001, according to Dealogic. The $3 billion one-year floating-rate note was launched at a spread of 100 basis points over the three-month London Interbank Offered rate. The $750 million two-year floating-rate note offers a premium of 200 basis points over Libor. Both the $2.5 billion three-year fixed-rate and the $2.75 billion five-year pieces were launched at 335 basis points over Treasurys, the $4.5 billion 10-year piece at 345 basis points and the $2.5 billion long 30-year tranche was launched at 365 basis points over Treasurys. The issue has been rated Aa1 by Moody's Investors Service and double-A-minus by Standard & Poor's and is expected to price later Wednesday via active bookrunners Bank of America Securities, Citigroup and JP Morgan Chase. -By Kellie Geressy; Dow Jones Newswires; (201) 938-2050; kellie.geressy@dowjones.com (END) Dow Jones Newswires February 18, 2009 14:30 ET (19:30 GMT)<< So it would appear Roche will be able to get the deal done. Question remains "at what price?" but the tender offer should now be a floor. DNA showing some relative strength today. Cheers, Tuck