CapLaw-2026-26

  • Novartis‘s Issuance of USD 11 Billion Multi‑Tranche Notes

    On 18 March 2026, Novartis Capital Corporation issued USD 11 billion notes in seven tranches. The offering comprised USD 500 million floating rate notes due 2029 (compounded SOFR + 0.650%) and six fixed-rate series totaling USD 10.5 billion with coupons from 4.100% to 5.700% and due between 2029 and 2056. The notes are guaranteed by Novartis AG. 

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    CapLaw

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