Eli Lilly’s $4.5 Billion Notes Offering


Davis Polk advised the joint book-running managers in connection with a $4.5 billion registered offering by Eli Lilly and Company of $1.15 billion aggregate principal amount of its 3.375% notes due 2029, $850 million aggregate principal amount of its 3.875% notes due 2039, $1.5 billion aggregate principal amount of its 3.950% notes due 2049 and $1.0 billion aggregate principal amount of its 4.150% notes due 2059.

Credit Suisse, Deutsche Bank, Goldman Sachs and JP Morgan acted as underwriters in the deal.

Eli Lilly and Company is a worldwide research-based pharmaceutical company. The company was incorporated in 1901 in Indiana to succeed to the drug manufacturing business founded in Indianapolis, Indiana in 1876 by Colonel Eli Lilly, and is focused on the discovery, development, manufacture, marketing and sale of human pharmaceutical products.

The Davis Polk corporate team included partner John G. Crowley (Picture) and associate Isabel Rivera. The tax team included partner Mario J. Verdolini and associate Alexander J. Hendin. The environmental team included counsel Loyti Cheng and associate Michael Comstock. The intellectual property and technology team included partner David R. Bauer and associate Jay Frankel.

Involved fees earner: David Bauer – Davis Polk & Wardwell; Loyti Cheng – Davis Polk & Wardwell; Michael Comstock – Davis Polk & Wardwell; John Crowley – Davis Polk & Wardwell; Jay Frankel – Davis Polk & Wardwell; Alexander Hendin – Davis Polk & Wardwell; Isabel Rivera – Davis Polk & Wardwell; Mario Verdolini – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Credit Suisse; Deutsche Bank; Goldman Sachs; JP Morgan;

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Author: Ambrogio Visconti