ALZA Announces Closing of Zero Coupon Convertible Subordinated
Debentures Source Press Release Company ALZA Tags Convertible Issue
Date July 28, 2000 Offering Raises a Total of $600 Million in
Private Offering Mountain View, CA -- July 28, 2000 - ALZA
Corporation announced today the closing of its offering of zero
coupon convertible subordinated debentures due July 28, 2020. ALZA
issued debentures with an aggregate issue price of approximately
$600 million ($1.09 billion aggregate principal amount at
maturity), including $100 million ($180 million aggregate principal
amount at maturity) sold to the initial purchasers under their
overallotment option. The debentures were sold at an issue price of
$551.26 per $1,000 principal amount at maturity. The issue price
represents a yield to maturity of 3 percent per year. The
securities are not registered under the Securities Act of 1933 or
any state securities laws and were sold in the United States in a
private placement under Rule 144A under the Securities Act.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
1. Summary of Significant Accounting Policies Principles of
Consolidation - The consolidated financial statements include the
accounts of Johnson and Johnson and its subsidiaries (the Company).
Intercompany accounts and transactions are eliminated.
7. Borrowings
The components of long-term debt are as follows:
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