Novartis confirms Sandoz Spin-off for October 4, 2023
Novartis confirms Sandoz Spin-off for October 4, 2023
arcticnovartis
- Sandoz shares (SDZ) to be listed and traded on SIX Swiss Exchange; ADRs to be traded on OTCQX®, first trading day October 4, 2023
- Sandoz to be included in key Swiss market indices
- Investment grade credit rating for Sandoz confirmed: Moody’s, Baa2; S&P, BBB
- Debt financing of USD 3.75 billion (in various currencies) secured for Sandoz, supported by USD 1.25 billion revolving credit facility
- Spin-off to be completed by way of a 1:5 distribution of Sandoz shares to Nov