Gilead Sciences prices $2B senior unsecured notes in a public offering
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Gilead Sciences (NASDAQ:GILD) has priced its public offering of $2B senior unsecured notes in two tranches.
The offering, which consists of $1B of 5.250% senior notes due 2033 and $1B of 5.550% senior notes due 2053, is expected to close on September 14, 2023.
The company intends to use the net proceeds from this offering for general corporate purposes.
Seeking Alpha's quant rating system assigns the stock a Hold recommendation on growth concerns, as opposed to a Buy rating from Sell-side analysts.
"Gilead Sciences is still deeply undervalued, which should lead to higher stock prices in the coming quarters," believes SA author Daniel SchÃ¶nberger.


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