Merck KGaA, a German maker of drugs and electronics, is looking to sell around $4 billion of US investment-grade bonds to help fund its acquisition of SpringWorks Therapeutics Inc., according to people with knowledge of the matter.
The deal would be split into as many as four parts, maturing in three, five, seven and 10 years, some of the people said, asking not to be identified because the details are private. Proceeds from the bond sale will be used to refinance the temporary debt put in place for the $3.9 billion acquisition of SpringWorks, a maker of biopharmaceuticals, according to a person with knowledge of the matter.
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