03:45 PM EDT, 08/12/2024 (MT Newswires) -- (Updates to reflect Eli Lilly ( LLY ) declined comment to MT Newswires)

Eli Lilly ( LLY ) filed a prospectus Monday to raise debt for its $3.2 billion acquisition of Morphic.

According to a securities filing, the pharma company is looking to issue five separate series of notes to raise $5 billion but has yet to price the notes.

Amounts left after the Morphic acquisition will be used to repay the company's outstanding commercial paper, Lilly said.

The longest portion of the deal is reported to be a 40-year note that would offer a yield of 100 basis points over Treasuries, according to Bloomberg, citing a person with knowledge of the matter.

Eli Lilly ( LLY ) declined comment to MT Newswires.

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