Novo Nordisk Raises €3.5bn through Multi-Tranche Bond Sale to Fund Akero Acquisition

Novo Nordisk is selling €3.5 billion in euro bonds to fund its acquisition of US biotech Akero Therapeutics for up to $5.2 billion. Proceeds will also go towards general corporate purposes. The bonds will have a two to 20-year maturity and be sold at various interest rates. The deal is being led by BNP Paribas, Citigroup, and Deutsche Bank.