Eli Lilly & Co. is seeking to raise about $8 billion from an investment-grade bond sale, according to people with direct knowledge of the matter, as part of the company’s effort to fund an acquisition spree.
The drugmaker is offering notes in as many as eight tranches, with maturities ranging from two to 40 years, said one of the people, who also asked not to be identified disclosing private details. Initial price talk on the longest tenor — a bond maturing in 2066 — is for a spread of about 1.13 percentage points above Treasuries.
