Biotech Values

[DewDiligence]

CAT sells 50-year bonds yielding 4.8%:

http://online.wsj.com/news/articles/SB10001424052702304831304579544304288532382

Caterpillar sold $500 million of 50-year bonds and offered them to yield 1.375 percentage points more than comparable U.S. Treasurys. The company also sold 10-year and 30-year debt, to yield 0.80 and 0.95 percentage point over Treasurys. The 10-, 30- and 50-year bonds yielded 3.402%, 4.342% and 4.767%, respectively. The total size of the sale was $2 billion.

The Caterpillar deal received about $8 billion in orders [i.e. it was 4x oversubscribed], said one investor following the sale.