Merck prices $6.0 billion of senior notes in seven tranches maturing 2028 to 2056

Merck filed a $6.0 billion senior notes offering in seven tranches with maturities from 2028 to 2056. Coupons run from a floating rate of compounded SOFR plus 0.370% on the 2028 notes to a 5.850% fixed rate on the 2056 notes, and the deal was set to settle on or about May 22, 2026. The largest fixed-rate pieces were $1.5 billion of 5.200% notes due 2036 and $1.0 billion each of 4.300% notes due 2028, 4.950% notes due 2033 and 5.850% notes due 2056.

• Total: $6.0B across seven tranches
• Maturities 2028 to 2056; top fixed coupon 5.850%
• Settlement on or about May 22, 2026