We advised Novartis on the investment-grade debt offering

Davis Polk advised Novartis AG and Novartis Capital Corporation in connection with an SEC-registered debt offering of $500 million of floating-rate notes due 2029, $1.25 billion of 4.100% notes due 2029, $1.75 billion of 4.400% notes due 2031, $2 billion of 4.600% notes due 2033, $2.25 billion of 4.900% notes due 2036, $1 billion of 5.600% notes due 2046 and $2.25 billion of 5.700% notes due 2056. The notes were issued by Novartis Capital Corporation and are guaranteed by Novartis AG.

Novartis, headquartered in Basel, Switzerland, is a manufacturer of pharmaceuticals and healthcare products aimed at improving and extending people’s lives.

The Davis Polk corporate team included partner Yasin Keshvargar and associates Nicole Hylas, Hye seon Jung and Diego Tomas Jimenez Juri. The tax team included partner Kara L. Mungovan, counsel Liang Zhang and associates Hunter P. Shaw and Michael Hsieh. Counsel Sarah E. Kim and associate Saloni Pant provided ’40 Act advice. All members of the Davis Polk team are based in the New York office.

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