We advised Novartis on the investment-grade debt offering

Davis Polk advised Novartis AG and Novartis Capital Corporation in connection with an SEC-registered debt offering of $1 billion aggregate principal amount of 3.800% notes due 2029, $850 million aggregate principal amount of 4.000% notes due 2031, $1.1 billion aggregate principal amount of 4.200% notes due 2034 and $750 million aggregate principal amount of 4.700% notes due 2054. The notes were issued by Novartis Capital Corporation and are guaranteed by Novartis AG.

The Davis Polk corporate team included partners Yasin Keshvargar and John Meade and associates Moses Farzan Nekou, Sean Kennelly and Frank Zhang. The tax team included partner Kara L. Mungovan and associate Michelle Zhao. All members of the Davis Polk team are based in the New York office.

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