Royalty Pharma Announces Pricing of $2.0 Billion of Senior Unsecured Notes
Royalty Pharma (Nasdaq: RPRX) has announced the pricing of $2.0 billion in senior unsecured notes across three tranches: $600 million of 4.450% Notes due 2031, $900 million of 5.200% Notes due 2035, and $500 million of 5.950% Notes due 2055.
The notes will be guaranteed by Royalty Pharma Holdings Ltd and Royalty Pharma Manager, LLC. The offering is expected to close on September 16, 2025. The company plans to use the proceeds for general corporate purposes. Multiple financial institutions, led by BofA Securities, Goldman Sachs, J.P. Morgan, Morgan Stanley, and TD Securities, are serving as joint book-running managers.
Royalty Pharma (Nasdaq: RPRX) ha annunciato il prezzo di 2,0 miliardi di dollari di obbligazioni senior non garantite suddivise in tre tranche: 600 milioni di dollari di obbligazioni al 4,450% con scadenza 2031, 900 milioni di dollari al 5,200% con scadenza 2035 e 500 milioni di dollari al 5,950% con scadenza 2055.
Le obbligazioni saranno garantite da Royalty Pharma Holdings Ltd e Royalty Pharma Manager, LLC. L'offerta dovrebbe chiudersi il 16 settembre 2025. La società intende utilizzare i proventi per scopi aziendali generali. Diverse istituzioni finanziarie, guidate da BofA Securities, Goldman Sachs, J.P. Morgan, Morgan Stanley e TD Securities, agiranno come joint book-running managers.
Royalty Pharma (Nasdaq: RPRX) ha anunciado la fijación del precio de 2.000 millones de dólares en bonos senior no garantizados repartidos en tres tramos: 600 millones de dólares de bonos al 4,450% con vencimiento en 2031, 900 millones de dólares al 5,200% con vencimiento en 2035 y 500 millones de dólares al 5,950% con vencimiento en 2055.
Los bonos estarán garantizados por Royalty Pharma Holdings Ltd y Royalty Pharma Manager, LLC. Se espera que la oferta cierre el 16 de septiembre de 2025. La compañía planea utilizar los fondos para fines corporativos generales. Varias instituciones financieras, encabezadas por BofA Securities, Goldman Sachs, J.P. Morgan, Morgan Stanley y TD Securities, actúan como gestores conjuntos del libro de colocación.
Royalty Pharma (Nasdaq: RPRX)� � � 트랜치로 구성� 20� 달러 규모� 선순� 무담� 채권� 가격을 책정했다� 발표했습니다: 2031� 만기 4.450% 채권 6� 달러, 2035� 만기 5.200% 채권 9� 달러, 2055� 만기 5.950% 채권 5� 달러입니�.
이들 채권은 Royalty Pharma Holdings Ltd � Royalty Pharma Manager, LLC가 보증합니�. 이번 공모� 2025� 9� 16�� 마감� 예정입니�. 회사� 자금 수익� 일반 기업 목적� 사용� 계획입니�. BofA Securities, Goldman Sachs, J.P. Morgan, Morgan Stanley � TD Securities가 공동 주관사로 참여합니�.
Royalty Pharma (Nasdaq: RPRX) a annoncé la tarification de 2,0 milliards de dollars d'obligations senior non garanties réparties en trois tranches : 600 millions de dollars d'obligations à 4,450% échéant en 2031, 900 millions de dollars à 5,200% échéant en 2035 et 500 millions de dollars à 5,950% échéant en 2055.
Les obligations seront garanties par Royalty Pharma Holdings Ltd et Royalty Pharma Manager, LLC. L'offre devrait être clôturée le 16 septembre 2025. La société prévoit d'utiliser le produit pour des besoins généraux de l'entreprise. Plusieurs institutions financières, dirigées par BofA Securities, Goldman Sachs, J.P. Morgan, Morgan Stanley et TD Securities, agissent en tant que co-chefs de file.
Royalty Pharma (Nasdaq: RPRX) hat die Preisfestsetzung von 2,0 Milliarden US-Dollar an unbesicherten vorrangigen Schuldverschreibungen in drei Tranchen angekündigt: 600 Millionen US-Dollar 4,450% Schuldverschreibungen fällig 2031, 900 Millionen US-Dollar 5,200% fällig 2035 und 500 Millionen US-Dollar 5,950% fällig 2055.
Die Schuldverschreibungen werden von Royalty Pharma Holdings Ltd und Royalty Pharma Manager, LLC garantiert. Das Angebot soll am 16. September 2025 abgeschlossen werden. Das Unternehmen plant, die Erlöse für allgemeine Unternehmenszwecke zu verwenden. Mehrere Finanzinstitute, angeführt von BofA Securities, Goldman Sachs, J.P. Morgan, Morgan Stanley und TD Securities, fungieren als Joint Book-Running Managers.
- Successful pricing of a large $2.0 billion debt offering indicates strong market confidence
- Diversified maturity profile with three tranches spanning from 2031 to 2055
- Strong syndicate of leading financial institutions supporting the offering
- Additional long-term debt obligations will increase interest expense
- Vague use of proceeds for 'general corporate purposes' provides limited clarity on strategic benefits
Insights
Royalty Pharma's $2B debt offering strengthens liquidity while leveraging tiered maturities at competitive rates in current market conditions.
Royalty Pharma has successfully priced a significant
The tiered maturity structure reveals thoughtful financial planning, allowing Royalty Pharma to lock in current rates while spreading repayment obligations over multiple decades. The interest rate ladder (
This debt issuance is particularly notable for being backed by guarantees from Royalty Pharma Holdings Ltd and Royalty Pharma Manager, LLC, which strengthens the offering's credibility. The broad syndicate of underwriters � spanning major institutions like BofA Securities and Goldman Sachs alongside diverse smaller firms � suggests strong market interest and broad distribution potential.
While the company stated the proceeds will be used for "general corporate purposes," this typically signals strategic flexibility rather than a specific immediate need. For a royalty acquisition company like Royalty Pharma, having substantial liquidity allows for rapid action when attractive healthcare royalty opportunities arise, potentially strengthening their competitive position in securing valuable pharmaceutical income streams.
NEW YORK, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) announced today that it has priced an offering of
$600 million of4.450% Notes due 2031 (the �2031 Notes�);$900 million of5.200% Notes due 2035 (the �2035 Notes�); and$500 million of5.950% Notes due 2055 (the �2055 Notes�).
The Notes will be guaranteed on a senior unsecured basis by Royalty Pharma Holdings Ltd and Royalty Pharma Manager, LLC. The offering is expected to close on September 16, 2025, 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, Goldman Sachs & Co. LLC, 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. Citigroup, DNB Carnegie, 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 Shank 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, by telephone at 1-800-294-1322 or by email at ; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526, by facsimile at 212-902-9316 or by email at ; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email at or ; 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 ; 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="/articles/market-capitalization-explained" title="Read: What Is Market Capitalization and How It Is Calculated" class="article-link" rel="noopener">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) 883-6772
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