#corporate bonds

Eli Lilly prices $9bn eight-tranche bond, biggest-ever sale to fund $13bn M&A push

Eli Lilly priced $9bn of investment-grade bonds across eight tranches on Wednesday, its largest-ever debt sale, to fund the Centessa and Kelonia acquisitions. The 40-year tranche tightened 33 basis points from initial price talk to 80bp over Treasuries.