Gilead Raises $3 Billion to Help Fund Acquisition Spree (1)

Gilead Sciences Inc. sold $3 billion of bonds on Thursday, marking the company’s first investment-grade bond deal in 18 months, following a string of multi billion-dollar acquisitions.

The drugmaker priced $3 billion of notes in four tranches maturing in two to eight years, according to a person familiar with the matter. The longest bond will yield 0.45 percentage point above Treasuries, about 35 basis points tighter than initial price talk, the person said, who asked not to be identified as they’re not authorized to speak publicly.

Proceeds are earmarked for general corporate purposes that may include funding acquisitions and investments, ...