PrintZoetis Prices $1.75 Billion Convertible Notes Offering
BY MT Newswires | CORPORATE | 12/16/25 03:16 AM EST03:16 AM EST, 12/16/2025 (MT Newswires) -- Zoetis
The underwriters were granted a 13-day option to purchase up to $250 million additional amount of notes.
The notes will be convertible at an initial rate of $148.20 per share.
Net proceeds, estimated to be about $1.72 billion to $1.97 billion, will be used to fund certain capped call transactions, and share repurchases, the company said.
Closing of the offering is expected to occur on Thursday, subject to customary closing conditions.
The company also said it plans to repurchase about $250.3 million worth of common shares in privately negotiated transactions concurrent with the notes offering and an additional $1.31 billion worth of common shares no later than Q1 2026.
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