• $1B of 1.7% notes due 2019 • $1B of 2.2% notes due 2021 • $1.75B of 3.0% notes due 2026 • $1B 4.0% notes due 2036 • $1.25B of 4.125% notes due 2046
Up to $3.25B of the proceeds from the new bonds will be used to retire (via a tender offer) PFE’s existing bonds due in 2019. That leaves at least $2.75B for “general corporate purposes,” which likely means M&A.
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