Eli Lilly raises $9B in debt to fund Centessa acquisition, with mandatory buyback if deal fails

Filed May 20, 2026 · Period ending May 20, 2026 · ~1 min read

Key Changes

• high

  Completed $9 billion debt offering across 8 note series (maturities 2028-2066) to finance pending Centessa acquisition, with net proceeds of $8.94 billion after underwriting fees.

  Item 8.01 — Other Events verify on EDGAR →
• high

  Five note series totaling $5.75 billion must be redeemed at 101% of principal plus interest if Centessa deal doesn't close by March 31, 2027, creating reinvestment risk for bondholders.

  Item 8.01 — Other Events verify on EDGAR →
• medium

  Issued $1.25 billion in floating-rate notes priced at SOFR plus 35-46 basis points with quarterly resets, providing interest rate protection as rates fluctuate.

  Item 8.01 — Other Events verify on EDGAR →