Royalty Pharma plc (Nasdaq: RPRX) announced today that it has
priced an offering of $1.5 billion of senior unsecured notes,
comprised of the following (collectively, the “Notes”):
- $500 million of 5.150% Notes due
2029 (the “2029 Notes”);
- $500 million of 5.400% Notes due
2034 (the “2034 Notes”); and
- $500 million of 5.900% Notes due
2054 (the “2054 Notes”).
The Notes will be guaranteed on a senior
unsecured basis by Royalty Pharma Holdings Ltd. The offering is
expected to close on June 10, 2024, subject to the satisfaction of
customary closing conditions.
Royalty Pharma intends to use the net proceeds from the Notes
for general corporate purposes.
BofA Securities, Citigroup, J.P. Morgan, Morgan
Stanley and TD Securities are acting as joint lead book-running
managers and as representatives of the underwriters for the
offering. DNB Markets, SMBC Nikko, SOCIETE GENERALE, US Bancorp,
Academy Securities, AmeriVet Securities, Blaylock Van, LLC, Cabrera
Capital Markets LLC, Drexel Hamilton, R. Seelaus & Co., LLC,
Ramirez & Co., Inc., Siebert Williams Bank and Tigress
Financial Partners are acting as co-managers for the offering.
The Notes are being offered pursuant to an
effective shelf registration statement that the Company filed with
the Securities and Exchange Commission (the “SEC”). The offering is
being made only by means of a preliminary prospectus supplement and
accompanying prospectus. A preliminary prospectus supplement and
accompanying prospectus relating to the offering have been filed
with the SEC and are available free of charge on the SEC’s website
at http://www.sec.gov. The final prospectus supplement and
accompanying prospectus relating to the offering will be filed with
the SEC and may also be obtained, when available, by contacting:
BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street,
Charlotte, NC, 28255-0001, Attention: Prospectus Department, Email:
dg.prospectus_requests@bofa.com; Citigroup Global Markets Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717 (Tel: 800-831-9146) or by e-mail at
prospectus@citi.com; J.P. Morgan Securities LLC, Attention:
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, by email at prospectus-eq_fi@jpmchase.com; Morgan
Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
Street, Second Floor, New York, New York 10014, by telephone at
1-866-718-1649 or by e-mail at prospectus@morganstanley.com; or TD
Securities (USA) LLC, 1 Vanderbilt Avenue, New York, New York
10017, by telephone at (855) 495-9846.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy any of the Notes,
nor will there be any sale of these Notes in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
About Royalty Pharma
Founded in 1996, Royalty Pharma is the largest
buyer of biopharmaceutical royalties and a leading funder of
innovation across the biopharmaceutical industry, collaborating
with innovators from academic institutions, research hospitals and
non-profits through small and mid-cap biotechnology companies to
leading global pharmaceutical companies. Royalty Pharma has
assembled a portfolio of royalties which entitles it to payments
based directly on the top-line sales of many of the industry’s
leading therapies. Royalty Pharma funds innovation in the
biopharmaceutical industry both directly and indirectly -directly
when it partners with companies to co-fund late-stage clinical
trials and new product launches in exchange for future royalties,
and indirectly when it acquires existing royalties from the
original innovators. Royalty Pharma’s current portfolio includes
royalties on more than 35 commercial products, including Vertex’s
Trikafta, GSK’s Trelegy, Roche’s Evrysdi, Johnson & Johnson’s
Tremfya, Biogen’s Tysabri and Spinraza, AbbVie and Johnson &
Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Novartis’
Promacta, Pfizer’s Nurtec ODT and Gilead’s Trodelvy, and 17
development-stage product candidates.
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements” as that term is defined in
the United States Private Securities Litigation Reform Act of 1995,
including statements regarding the receipt and use of the net
proceeds from the offering of the Notes, and statements that
express the company’s opinions, expectations, beliefs, plans,
objectives, assumptions or projections regarding future events or
future results, in contrast with statements that reflect historical
facts. Examples include discussion of our strategies, financing
plans, growth opportunities and market growth. In some cases, you
can identify such forward-looking statements by terminology such as
“anticipate,” “intend,” “believe,” “estimate,” “plan,” “seek,”
“project,” “expect,” “may,” “will,” “would,” “could” or “should,”
the negative of these terms or similar expressions. Forward-looking
statements are based on management’s current beliefs and
assumptions and on information currently available to the company.
However, these forward-looking statements are not a guarantee of
our performance, and you should not place undue reliance on such
statements. Forward-looking statements are subject to many risks,
uncertainties and other variable circumstances, and other factors.
Such risks and uncertainties may cause the statements to be
inaccurate and readers are cautioned not to place undue reliance on
such statements. Many of these risks are outside of the company’s
control and could cause its actual results to differ materially
from those it thought would occur. The forward-looking statements
included in this document are made only as of the date hereof. The
company does not undertake, and specifically declines, any
obligation to update any such statements or to publicly announce
the results of any revisions to any such statements to reflect
future events or developments, except as required by law.
Royalty Pharma Investor Relations and
Communications:+1 (212) 883-6637ir@royaltypharma.com
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