Merck closes $6 billion debt offering across seven note series with rates up to 5.85%

Filed May 22, 2026 · Period ending May 22, 2026 · ~1 min read

Key Changes

• high

  Merck raised $6 billion through seven debt tranches maturing between 2028 and 2056, with interest rates ranging from floating rate to 5.85% fixed, significantly increasing the company's debt obligations while providing substantial liquidity.

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• medium

  The offering includes $500 million in floating rate notes and $5.5 billion in fixed-rate notes, with longer maturities carrying higher rates (5.75% for 2046 notes, 5.85% for 2056 notes).

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• medium

  The largest tranches are $1.5 billion in 2036 notes at 5.20% and $1 billion each in 2028, 2033, and 2056 notes, suggesting a balanced approach to maturity profile and interest rate exposure.

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