Celgene $3 Billion Notes Offering

Davis Polk advised the joint book-running managers on an SEC-registered offering by Celgene Corporation of $750 million aggregate principal amount of 2.750% senior notes due 2023, $1 billion aggregate principal amount of 3.450% senior notes due 2027 and $1.25 billion aggregate principal amount of 4.350% senior notes due 2047. Celgene intends to use the net proceeds from the offering to repay its outstanding 2.125% senior notes due 2018 and 2.30% senior notes due 2018, with any remaining proceeds to be used for general corporate purposes.

Headquartered in Summit, New Jersey, Celgene Corporation is an integrated global biopharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases. 

The Davis Polk corporate team included partner Richard D. Truesdell Jr. and associates Donald Shum and Jaryn S. Fields. The intellectual property and technology team included associates Bonnie Chen and Jesse L. Hallock. The tax team included partner Neil Barr and associates Joshua J. Micelotta and Christina L. Tacoronti. All members of the Davis Polk team are based in the New York office.