Eli Lilly Updates Debt Instruments in 8-K Filing

TL;DR

**Eli Lilly just updated its long-term debt details, showing various notes due through 2061.**

AI Summary

Eli Lilly and Company filed an 8-K on February 9, 2024, reporting an "Other Event" that occurred on February 7, 2024. This filing primarily updates the company's outstanding debt instruments, specifically detailing various notes with maturity dates ranging from June 1, 2025, to 2061, and interest rates from 1.125% to 6.77%. This matters to investors because it provides transparency on the company's long-term financial obligations, which can impact future earnings and cash flow available for shareholders.

Why It Matters

This filing provides a clear picture of Eli Lilly's long-term debt structure, which is crucial for assessing the company's financial health and its ability to manage future interest payments.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of existing debt instruments and does not indicate any new, significant financial risk or change in the company's operations.

Analyst Insight

A smart investor would review Eli Lilly's full financial statements to understand the total debt burden relative to its assets and cash flow, rather than just these specific notes, to assess long-term solvency.

Key Numbers

• 1.125% — Interest Rate (Lowest interest rate on notes due 2051)
• 6.77% — Interest Rate (Highest interest rate on notes due January 1, 2036)
• June 1, 2025 — Maturity Date (Earliest maturity date for notes mentioned)
• 2061 — Maturity Date (Latest maturity date for notes mentioned)

Key Players & Entities

• ELI LILLY & Co (company) — the registrant filing the 8-K
• February 7, 2024 (date) — date of the earliest event reported
• February 9, 2024 (date) — date the 8-K was filed
• 001-06351 (other) — Commission File Number
• 35-0470950 (other) — I.R.S. Employer Identification No.
• Lilly Corporate Center (other) — Address of Principal Executive Offices
• Indianapolis, Indiana (other) — City and State of Principal Executive Offices
• 46285 (other) — Zip Code of Principal Executive Offices
• (317) 276-2000 (other) — Registrant's Telephone Number

Forward-Looking Statements

• Eli Lilly will continue to manage its debt obligations effectively, given the staggered maturity dates. (ELI LILLY & Co) — high confidence, target: 2025-2061
• The company's interest expense will remain a manageable factor in its financial statements. (ELI LILLY & Co) — medium confidence, target: 2024-2025

FAQ

Key Financial Figures

• $1,000,000,000 — the issuance and sale by the Company of $1,000,000,000 aggregate principal amount of its 4.500
• $1,500,000,000 — 500% Notes due 2029 (the "2029 Notes"), $1,500,000,000 aggregate principal amount of its 4.700
• $6.45 billion — Company, net proceeds of approximately $6.45 billion. Upon the occurrence of an Event of D

Filing Documents

• d728700d8k.htm (8-K) — 51KB
• d728700dex11.htm (EX-1.1) — 258KB
• d728700dex43.htm (EX-4.3) — 184KB
• d728700dex51.htm (EX-5.1) — 15KB
• d728700dex52.htm (EX-5.2) — 11KB
• g728700dsp20.jpg (GRAPHIC) — 4KB
• g728700dsp_18.jpg (GRAPHIC) — 4KB
• g728700g0209005922983.jpg (GRAPHIC) — 3KB
• g728700g0209010826721.jpg (GRAPHIC) — 2KB
• 0001193125-24-029551.txt ( ) — 852KB
• lly-20240207.xsd (EX-101.SCH) — 6KB
• lly-20240207_def.xml (EX-101.DEF) — 16KB
• lly-20240207_lab.xml (EX-101.LAB) — 28KB
• lly-20240207_pre.xml (EX-101.PRE) — 18KB
• d728700d8k_htm.xml (XML) — 16KB

Financial Statements and Exhibits

Financial Statements and Exhibits. (d)Exhibits 1.1 Underwriting Agreement, dated February 7, 2024, among Eli Lilly and Company and BofA Securities, Inc., Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Mizuho Securities USA LLC, as representatives of the several underwriters named therein. 4.1* Indenture, dated February 1, 1991, among Eli Lilly and Company and Deutsche Bank Trust Company Americas, as successor to Citibank, N.A., as Trustee. 4.2 Tripartite Agreement, dated September 13, 2007, appointing Deutsche Bank Trust Company Americas as Successor Trustee under the Indenture listed above. 4.3 Form of Officers' Certificate setting forth the terms and form of the Notes. 4.4 Form of 4.500% Note due 2027 (included in Exhibit 4.3 above). 4.5 Form of 4.500% Note due 2029 (included in Exhibit 4.3 above). 4.6 Form of 4.700% Note due 2034 (included in Exhibit 4.3 above). 4.7 Form of 5.000% Note due 2054 (included in Exhibit 4.3 above). 4.8 Form of 5.100% Note due 2064 (included in Exhibit 4.3 above). 5.1 Opinion of Kirkland & Ellis LLP. 5.2 Opinion of Jonathan Groff, Esq. 23.1 Consent of Kirkland & Ellis LLP (included as part of Exhibit 5.1). 23.2 Consent of Jonathan Groff, Esq. (included as part of Exhibit 5.2). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Incorporated by reference to the same-numbered exhibit of the Company's Registration Statement on Form S-3 (File No. 333-186979), filed with the Securities and Exchange Commission ("SEC") on March 1, 2013. Incorporated by reference to the same-numbered exhibit of the Company's Annual Report on Form 10-K for the year ended December 31, 2008 (File No. 001-06351), filed with the SEC on February 27, 2009.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ELI LILLY AND COMPANY (Registrant) By: /s/ Philip Johnson Name: Philip Johnson Title: Group Vice President, Finance and Treasurer Dated: February 9, 2024

View Full Filing

View this 8-K filing on SEC EDGAR