Eli Lilly launches investment-grade bond issuance to raise funds for acquisition deals

```htmlGolden Ten Data reported on May 6 that Eli Lilly (LLY.N) has initiated an investment-grade bond issuance to raise funds for its recent series of acquisition deals. According to sources familiar with the matter, Eli Lilly plans to issue bonds with up to eight maturities, ranging from 2 years to 40 years. The longest bond, maturing in 2066, has a preliminary price guidance of approximately 113 basis points above U.S. Treasury yields. Eli Lilly is currently undertaking large-scale acquisitions. In the past two months, the company completed acquisitions of Centessa Pharmaceuticals Plc, a sleep medication developer, for up to $7.8 billion, and Kelonia Therapeutics, a cancer drug developer, for up to $7 billion. Both deals rank among the most expensive acquisitions in Eli Lilly’s history. CEO Dave Ricks stated that investors should expect more deals in the future. The bond issuance also coincides with Eli Lilly’s strong first-quarter performance, as the company raised its full-year sales and profit forecasts.```