CareFusion (NYSE:CFN) said it plans to offer $1 billion worth of senior notes, aiming to use the proceeds to repay another, $450 million worth of senior debt that’s coming due this year.
CareFusion said it plans to issue $300 million in notes due 2017 at 1.45%; $400 million in notes due in 2024 at 3.875%; and $300 million in notes due in 2044 at 4.875%.
San Diego-based CareFusion said it plans to use the expected $987.9 million in proceeds to retire $450 million worth of 5.125% notes due in 2014.
The remainder will be used for "general corporate purposes," according to a press release.
Barclays Capital, J.P. Morgan Securities and Merrill Lynch, Pierce, Fenner & Smith Inc. are acting as joint book-running managers for the offering, which is slated to close May 22, according to the release.