J&J Sells $5 Billion of Bonds to Fund Intra-Cellular Deal (3)

Johnson & Johnson sold $5 billion of high-grade corporate bonds Tuesday to help fund its acquisition of Intra-Cellular Therapies Inc., part of the market’s second-busiest day this year.

The drug and medical-devices maker sold dollar-denominated notes in five parts, according to a person familiar with the matter who asked not to be identified as the details are private. The longest portion, a 10-year note, yields 0.47 percentage point above Treasuries, versus initial price talk in the 0.7 percentage point area.

Johnson & Johnson was among 17 sellers of investment-grade debt Tuesday, after an unexpectedly slow period last week. ...