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New Issue- Merck prices dual tranche deal
December 8, 2014 / 4:32 PM / 3 years ago

New Issue- Merck prices dual tranche deal

Dec 8 (Reuters) -Following are terms and conditions

of a dual tranche deal priced on Monday.

Borrower Merck KGaA

****

Tranche 1

Issue Amount 1.0 billion euro

Maturity Date December 12, 2074

Coupon 2.625 pct

Reoffer price 99.274

Spread 218.4 basis points

Underlying govt bond Over the midswaps, equivalent to 254 basis points

Over the 2.5 pct January 2021 DBR

ISIN XS1152338072

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Tranche 2

Issue Amount 500 million euro

Maturity Date December 12, 2074

Coupon 3.375 pct

Reoffer price par

Spread 241.1 basis points

Underlying govt bond Over the midswaps, equivalent to 264.9 basis points

Over the 1.0 pct August 2024 DBR

ISIN XS1152343668

****

Common Terms

Payment Date December 12, 2014

Lead Manager(s) Barclays, BNP Paribas, Deutsche Bank &

Goldman Sachs International

Ratings Baa3 (Moody‘s)

Listing Lux

Full fees Undisclosed

Denoms (K) 1

Security details and RIC, when available, will be

on

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