Merck & Co., Inc. Completes $6B Notes Offering

Fried Frank advised Merck & Co., Inc., as issuer, in its $6 billion, seven-tranche registered public offering of US dollar-denominated senior notes. Merck & Co., Inc. intends to use the net proceeds of the offering to repay in full all outstanding borrowings under its 364-Day Delayed Draw Term Loan Credit Agreement, which it incurred to finance a portion of the consideration and related fees and expenses payable in connection with its acquisition of Terns Pharmaceuticals, Inc. Merck & Co., Inc. is a global health care company that delivers innovative health solutions through its prescription medicines, including biologic therapies, vaccines and animal health products.

Corporate partners Daniel J. Bursky and Andrew B. Barkan led the Fried Frank team.

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