Merck & Co Inc. is seeking to raise as much as $8 billion through a corporate bond sale, with part of the proceeds expected to help fund its proposed acquisition of Cidara Therapeutics Inc., according to people with knowledge of the matter.
The pharmaceutical company is selling US dollar bonds is as many as eight parts, with maturities ranging from three to 40 years, according to a separate person familiar with the matter. Initial price discussions for the longest portion of the deal — a note maturing in 2065 — are for a premium of about 1.2 percentage points above Treasuries, the person added, asking not to be identified discussing private details.
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