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News Nov 20, 2015

Shearman & Sterling Advises on Novartis Capital Corporation’s $3 Billion Notes Offering

Shearman & Sterling represented Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., and UBS Securities LLC as the joint book-running managers and Barclays Capital Inc., BNP Paribas Securities Corp., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., RBS Securities Inc., and SG Americas Securities, LLC, as co-managers in connection with Novartis Capital Corporation’s registered shelf takedown of $1.75 billion 3.000% notes due 2025 and $1.25 billion 4.000% notes due 2045. 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), Manuel Orillac (New York-Capital Markets), Danforth Newcomb (New York-Litigation), and Kristen Garry (Washington, DC-Tax) and associates Christina Leto-Feist (New York-Capital Markets), Jennifer Morton (New York-Financial Institutions Advisory & Financial Regulatory), Yoon-jee Kim (New York-Capital Markets), Eric Grosshandler (New York-Tax), Jenny Ding (New York-Financial Institutions Advisory & Financial Regulatory), Kimball Smith (New York-Corporate), Saif Alaqili (London-Capital Markets) and Christina Lee (New York-Litigation).