Merck Launches US Dollar Bond Sale to Fund Cidara Acquisition

Merck & Co. is selling US dollar bonds with maturities from 3 to 40 years to fund its acquisition of Cidara Therapeutics. Proceeds will be used for general corporate purposes, including repaying debt and funding a portion of the Cidara deal. The bonds are expected to be rated Aa3 by Moody's and A+ by S&P Global Ratings. BNP Paribas, Citigroup, Deutsche Bank, and HSBC are managing the sale.