Pfizer Inc. on Monday said it priced a sustainability bond of $1 billion of 1.750% senior notes due 2031.
The company said net proceeds will finance or refinance research and development related to the Covid-19 vaccine, capital expenditures connected with the manufacture and distribution of the vaccines and other projects with environmental or social impacts.
The offering is expected to close on Aug. 18.
Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the offering's joint book-running managers, Pfizer said.
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