03 Nov 2025

"Clifford Chance Advises on Sanofi's $3 Billion Bond Issuance Across Five Tranches"

"Clifford Chance successfully advised on Sanofi's SEC-registered $3 billion bond issuance, which included five tranches of floating and fixed-rate notes with maturities ranging from two to seven years. The legal team supported global coordinators and joint book-running managers, including Barclays, BNP Paribas, and Bank of America, among others. Sanofi is a biopharma company focused on R&D and AI-driven solutions."

Clifford Chance acted as legal counsel to Barclays Capital Inc., BNP Paribas Securities Corp., and BofA Securities, Inc. as global coordinators and joint book-running managers, as well as J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., and Natixis Securities Americas LLC as joint book-running managers, in connection with Sanofi's SEC-registered USD 3 billion bond issuance. The transaction involved the issuance of five tranches of bonds, including two tranches of floating rate notes and three tranches of fixed-rate notes, with maturities ranging from two to seven years. Sanofi, listed on NASDAQ and Euronext, is a biopharmaceutical company focused on research and development, artificial intelligence, and improving lives while delivering growth. The Clifford Chance team was led by Olivier Plessis, with key support from Jill Concannon, Trey Oxendine, and Tara Kade in London, and Cedric Burford, Auriane Bijon, and Baya Hariche in Paris. Additional support on U.S. and French tax matters was provided by Avrohom Gelber and Gil Shauly in New York, and Pierre Goyat and Hanene Zemir in Paris.
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