Activis bond books heard topping US$65bn: source

Books on pharma company Actavis' jumbo nine-tranche bond partly backing the acquisition of Allergan were heard topping $65 billion and are due to close at 1:30 p.m. New York time, sources said.

Bookrunners JP Morgan, Mizuho Securities and Wells Fargo Securities announced initial price thoughts today and are aiming to price the bond—expected to be $22 billion—on Tuesday.