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DewDiligence

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DewDiligence

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Re: DewDiligence post# 21496

Tuesday, 05/19/2020 2:10:50 PM

Tuesday, May 19, 2020 2:10:50 PM

Post# of 30508
PFE sells $4B of debt in four tranches:

https://finance.yahoo.com/news/pfizer-prices-4-000-000-012400991.html

• $750M of 5yr notes paying 0.80%
• $1.0B of 10yr notes paying 1.70%
• $1.0B of 20yr notes paying 2.55%
• $1.25B of 30yr notes paying 2.70%

At these crazy-low rates, PFE would be crazy not to do it.

Note: Two months ago, PFE sold $1.25B of 10yr notes paying 2.665% (#msg-154570474), considerably higher than the 10yr interest rate in today’s flotation.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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