Royalty Pharma Announces Pricing of $1.3 Billion of Senior Unsecured Notes, Including $600 Million Social Bond

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[{"type":"text","content":"Social Bond issuance underscores Royalty Pharma’s strong commitment to ESGSupports United Nations Sustainable Development Goals NEW YORK, July 15, 2021 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) announced today that it has priced an offering of $1.3 billion of senior unsecured notes, comprised of the following (collectively, the “Notes”): $600 million of 2.15% Senior Notes due 2031 (the “Social Bonds”); and$700 million of 3.35% Senior Notes due 2051 (the “2051 Notes”). The Notes will be guaranteed on a senior unsecured basis by Royalty Pharma Holdings Ltd. The offering is expected to close on July 26, 2021, subject to the satisfaction of customary closing conditions. Royalty Pharma intends to use an amount equal to the net proceeds from the Social Bonds to finance or refinance, in whole or part, one or more new or existing “Eligible Investments”. Eligible Investments are expected to support the achievement of United Nations Sustainable Development Goals (“SDG”) 3 (Good Health and Well-Being) and SDG 9.5 (Enhance Scientific Research, Encourage Innovation). Eligible Investments will include investments made beginning on the issue date of the Social Bonds, or in the 24 months prior to the issue date, that are in alignment with the four core components of the Social Bond Principles, 2021, administered by the International Capital Markets Association. Royalty Pharma intends to use the net proceeds from the 2051 Notes for general corporate purposes. BofA Securities, Citigroup, Goldman Sachs & Co. LLC, J.P. Morgan and Morgan Stanley are acting as joint lead book-running managers and as representatives of the underwriters for the offering. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes, nor will there be any sale of these Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. Royalty Pharma’s Social Bond Framework Royalty Pharma has developed a Social Bond Framework aligned with the International Capital Market Association’s Social Bond Principles, 2021, which are voluntary guidelines that promote transparency and integrity in the social bond market. As outlined in Royalty Pharma's Social Bond Framework, Royalty Pharma intends to allocate an amount equal to the net proceeds of social bond issuances to finance or refinance, in whol...

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