Merck KGaA to Issue $4 Billion Bonds to Finance SpringWorks Acquisition

Merck KGaA plans to raise $4 billion through bond sales to fund its acquisition of SpringWorks Therapeutics. The deal includes up to four tranches with varying maturity dates, with Barclays, BBVA, Bank of America, JPMorgan Chase, and Societe Generale as lead managers. The proceeds will be used to refinance short-term debts used to finance the SpringWorks acquisition, which was valued at $3.9 billion. Merck has yet to comment on the matter.