Zoetis Inc. (NYSE:ZTS) announced today that it has agreed to sell $1.25
billion of senior notes: $500,000,000 in aggregate principal amount of
3.450% senior notes due 2020 and $750,000,000 in aggregate principal
amount of 4.500% senior notes due 2025, in an underwritten public
offering.
Zoetis intends to use the net proceeds to repay amounts drawn under its
revolving credit facility, which were borrowed to fund the purchase
price for the acquisition of PHARMAQ; to repay the principal when due of
its 1.150% senior notes due 2016 in the aggregate principal amount of
$400 million; and for general corporate purposes. The offering is
expected to close on November 13, 2015, subject to customary closing
conditions.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital
Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are
acting as joint book-running managers of the underwriters. The final
prospectus supplement and accompanying prospectus, when available, may
be accessed through the SEC’s website at www.sec.gov.
Alternatively, the issuer, the underwriters or any dealer participating
in the offering will arrange to send you the prospectus and prospectus
supplement if you request it by calling BofA Merrill Lynch at
1-800-294-1322, Barclays at 1-888-603-5847, Citigroup at 1-800-831-9146
and J.P. Morgan at 212-834-4533.
These securities are offered pursuant to a registration statement that
has become effective under the Securities Act of 1933, as amended. These
securities are only offered by means of the prospectus supplement and
prospectus relating to the offering. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any offer or sale of these securities in any state or
other jurisdiction, where the offer, solicitation or sale of these
securities would be unlawful prior to the registration or qualification
under the securities laws of any such state or other jurisdiction.
About Zoetis
Zoetis (zô-EH-tis) is the leading animal health company, dedicated to
supporting its customers and their businesses. Building on more than 60
years of experience in animal health, Zoetis discovers, develops,
manufactures and markets veterinary vaccines and medicines, complemented
by diagnostic products and genetic tests and supported by a range of
services. In 2014, the company generated annual revenue of $4.8 billion.
With approximately 10,000 employees worldwide at the beginning of 2015,
Zoetis serves veterinarians, livestock producers and people who raise
and care for farm and companion animals with sales of its products in
120 countries.
DISCLOSURE NOTICES
Forward-Looking Statements: This
press release contains forward-looking statements, which reflect the
current views of Zoetis with respect to business plans or prospects,
future operating or financial performance, expectations regarding
products, future use of cash and dividend payments, and other future
events. These statements are not guarantees of future performance or
actions. Forward-looking statements are subject to risks and
uncertainties. If one or more of these risks or uncertainties
materialize, or if management's underlying assumptions prove to be
incorrect, actual results may differ materially from those contemplated
by a forward-looking statement. Forward-looking statements speak only as
of the date on which they are made. Zoetis expressly disclaims any
obligation to update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise. A
further list and description of risks, uncertainties and other matters
can be found in the prospectus supplement and accompanying prospectus
under the caption “Risk Factors” and in our Annual Report on Form 10-K
for the fiscal year ended December 31, 2014, including in the sections
thereof captioned “Forward-Looking Information and Factors That May
Affect Future Results” and “Item 1A. Risk Factors,” in our Quarterly
Reports on Form 10-Q and in our Current Reports on Form 8-K. These
filings and subsequent filings are available online at www.sec.gov,
Zoetis’s website, or on request from Zoetis.
Zoetis Inc.
Media Contacts:
Bill Price
1-973-443-2742 (o)
william.price@zoetis.com
or
Elinore White
1-973-443-2835 (o)
elinore.y.white@zoetis.com
or
Investor Contacts:
John O'Connor
1-973-822-7088 (o)
john.oconnor@zoetis.com
or
Steve Frank
1-973-822-7141 (o)
steve.frank@zoetis.com