BRIEF—Novo Nordisk establishes Euro Medium Term Note program

Danish diabetes care giant Novo Nordisk today announced that it has established a Euro Medium Term Note (EMTN) program.

The EMTN program provides a framework for issuances of senior unsecured notes up to an aggregated principal amount of 5 billion euros ($6.1 billion).

Novo Nordisk intends to initially issue two series of notes aggregating to a principal amount 1.3 billion euros.

The expected net proceeds from the issuances will be used by Novo Nordisk for general corporate purposes, including refinancing of the bridge loan facility established in connection with Novo Nordisk’s acquisition of Emisphere Technologies in 2020.

The notes will be listed on the Euronext Dublin.

The prospectus, which has been prepared by Novo Nordisk in connection with the establishment of the EMTN program, has been approved by Euronext Dublin and the Central Bank of Ireland and is available  here