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News Mar 24, 2014

Shearman & Sterling Advises on Novartis Capital Corporation’s $4 Billion Notes Offering

Shearman & Sterling represented Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. as the joint bookrunning managers in connection with Novartis Capital Corporation’s offering of $2.15 billion aggregate principal amount of 3.400% Notes due May 6, 2024 and $1.85 billion 4.400% Notes due May 6, 2044. Both tranches of notes were fully and unconditionally guaranteed by Novartis AG.

Novartis Capital Corporation is an indirect wholly owned finance subsidiary of Novartis AG. Novartis AG is organized as a holding company which owns, directly or indirectly, all significant operating companies of the Novartis Group. The Novartis Group is a multinational group of companies specializing in the research, development, manufacturing and marketing of a broad range of healthcare products, led by innovative pharmaceuticals.

The Shearman & Sterling team included partners Stuart Fleischmann (New York-Capital Markets), Jacques McChesney (London-Capital Markets), and Kristen Garry (Washington, DC-Tax) and associates Christina Leto-Feist (New York-Capital Markets), Melissa Henkel (Washington, DC-Tax) and Reed Schuster (New York-Capital Markets).