Sanofi-Aventis is seeking to raise about $7 billion in a debt offering, The Wall Street Journal reports. The drug manufacturer will issue $1 billion of one-year floating-rate notes, $1 billion one-year floating-rate notes and $750 million, three-year notes The company will also offer $750 million three-year fixed-rate notes, $1.5 billion five-year fixed-rate bonds and $2 billion 10-year notes. Sanofi-Aventis will partially use the proceeds to fund its merger with Genzyme and for general corporate purposes. Bank of America Merrill Lynch, JP Morgan Chase, BNP Paribas and Societe Generale are the joint book-running managers for the sale.
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