Lilly Set to Raise $9 Billion From Bond Sale to Fund Deals

Eli Lilly & Co. has launched a $9 billion investment-grade bond sale as part of the company’s effort to fund an acquisition spree.

The drugmaker is offering notes in eight tranches, with maturities ranging from two to 40 years, said a person familiar with the matter who asked not to be identified disclosing private details. The longest tenor, a bond maturing in 2066, is set to yield 0.8 percentage point above Treasuries, versus initial price talk of about 1.13 percentage points.