GlaxoSmithKline is promoting dollar bonds to help refinance its $10.6 billion bridge financing for the US biotech company Nuvalent Inc. Previously, the pharmaceutical company had issued €3.5 billion in Euro-denominated bonds. According to people familiar with the matter, the offering was divided into six term batches, ranging from 3 to 30 years. Among them, the initial price negotiations for the longest term bonds were about 1.1 percentage points higher than US Treasury bonds.

GlaxoSmithKline is promoting dollar bonds to help refinance its $10.6 billion bridge financing for the US biotech company Nuvalent Inc. Previously, the pharmaceutical company had issued €3.5 billion in Euro-denominated bonds. According to people familiar with the matter, the offering was divided into six term batches, ranging from 3 to 30 years. Among them, the initial price negotiations for the longest term bonds were about 1.1 percentage points higher than US Treasury bonds.