Zoetis Inc. (NYSE:ZTS) today announced that it has agreed to sell $1.35 billion of senior notes, consisting of $600 million aggregate principal amount of 5.400% senior notes due 2025 and $750 million aggregate principal amount of 5.600% senior notes due 2032, in an underwritten public offering.

Zoetis intends to use the net proceeds to repay the principal of its 3.250% senior notes due 2023 in the aggregate principal amount of $1.35 billion and the remainder, if any, for general corporate purposes. The offering is expected to close on November 16, 2022, subject to customary closing conditions.

Barclays Capital Inc., BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and MUFG Securities Americas Inc. are acting as joint book-running managers of the underwriters. The final prospectus supplement and accompanying prospectus, when available, may be accessed through the SEC's website at www.sec.gov. Alternatively, the issuer, the underwriters or any dealer participating in the offering will arrange to send the prospectus and prospectus supplement upon request by calling Barclays at 1-888-603-5847, BofA Securities at 1-800-294-1322, Citigroup at 1-800-831-9146, J.P. Morgan at 212-834-4533 and MUFG at 1-877-649-6848.

These securities are offered pursuant to a registration statement that has become effective under the Securities Act of 1933, as amended. These securities are only offered by means of the prospectus supplement and prospectus relating to the offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of these securities in any state or other jurisdiction, where the offer, solicitation or sale of these securities would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Zoetis

As the world's leading animal health company, Zoetis is driven by a singular purpose: to nurture our world and humankind by advancing care for animals. After 70 years innovating ways to predict, prevent, detect, and treat animal illness, Zoetis continues to stand by those raising and caring for animals worldwide -- from livestock farmers to veterinarians and pet owners. The company's leading portfolio and pipeline of medicines, vaccines, diagnostics and technologies make a difference in over 100 countries.

DISCLOSURE NOTICES

Forward-Looking Statements: This press release contains forward-looking statements, which reflect the current views of Zoetis with respect to future actions, business plans or prospects, product and supply chain disruptions, the impact of the COVID-19 pandemic, future operating or financial performance, risks or expectations related to indebtedness and financial results and other future events. Forward-looking statements are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if management's underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. Zoetis expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, including in the sections thereof captioned "Forward-Looking Statements and Factors That May Affect Future Results" and "Item 1A. Risk Factors," in our Quarterly Reports on Form 10-Q and in our Current Reports on Form 8-K. These filings and subsequent filings are available online at www.sec.gov, www.zoetis.com, or on request from Zoetis.

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Zoetis Announces Pricing of $1.35 Billion of Senior Notes