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Stock impact report

Eli Lilly Selling $5 Billion of Bonds to Fund Morphic Deal [Yahoo! Finance Canada]

Morphic Holding, Inc. (MORF) 
Last morphic holding, inc. earnings: 11/12 04:24 pm Check Earnings Report
Most Read from Bloomberg The company is selling bonds in five parts, according to a person with knowledge of the matter. The longest portion of the deal, a 40-year note, will yield 1 percentage point above Treasuries, after initial discussions of around 1.3 percentage point, the person added, asking not to be identified as the details are private. ADVERTISEMENT A spokesperson for Lilly declined to comment. Lilly is buying Morphic to gain experimental therapies for inflammatory bowel disease and other chronic illnesses, the companies said in a July 8 statement. The deal is expected to close in the third quarter, subject to customary closing conditions. Lilly is among 16 potential borrowers looking to sell fresh debt in the US high-grade market on Monday. Companies are likely trying to get ahead of a heavy economic data week, with producer price index data due Tuesday, consumer price index data out Wednesday and retail sales data coming on Thursday. Any remaining proceeds f Show less Read more
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