Sandoz Group AG issued a EUR 500 million bond on 14 September 2026. The instrument carries a coupon of 4.835% and matures in 12 years. Sandoz, listed on the SIX Swiss Exchange under SDZ and traded on OTCQX as SDZNY, said proceeds will be used for general corporate purposes, including refinancing existing debt.
The Basel-based company described the bond as part of its debt management strategy. Chief Financial Officer Remco Steenbergen said the issuance extends the maturity profile of its debt portfolio and reflects its financial foundation. He said proactive interest-rate risk management had reduced the impact of recent increases in market interest rates and allowed Sandoz to secure an effective interest cost below the bond's contractual coupon.
Including the new bond, Sandoz expects to keep the average annual interest rate on gross debt below 4%. The company said its debt maturity profile extends to 2038, with an average debt maturity of about six years, excluding bonds maturing through 2027. Sandoz aims to maintain an investment-grade credit rating and is rated Baa2 with a positive outlook by Moody's and BBB with a positive outlook by S&P.
The transaction was supported by a bank syndicate comprising Bank of America, Mizuho and SEB as active bookrunners, and Citi, HSBC and Société Générale as passive bookrunners. Advestra and Linklaters acted as legal advisors to Sandoz. The company noted that the bonds are not offered in the United States and that distribution is restricted in certain jurisdictions.
Sandoz describes itself as the global leader in affordable medicines, with a portfolio of about 1,300 medicines and more than 20,000 employees from 100 nationalities. The company said it reaches more than one billion patients and recorded net sales of USD 11.1 billion in 2025. It is headquartered in Basel and traces its heritage to 1886. In 2026, Sandoz marks 20 years of biosimilars, 80 years of antibiotics manufacturing and 140 years of heritage.
