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UPDATE 1-Novartis launches 1.5 bln euro 2016 bond

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ZURICH, June 2 (Reuters) - Swiss drugmaker Novartis AG NOVN.VX said on Tuesday it had launched a seven-year 1.5 billion euro ($2.1 billion) bond issue with a coupon of 4.25 percent.

The note maturing on June 15, 2016 was priced at 99.757 percent.

Novartis said the proceeds of the issue, which was four times oversubscribed, are for general corporate use.

Novartis is rated Aa2 by Moody’s, AA- by Standard & Poor’s and AA by Fitch. (Reporting by Jason Rhodes; Editing by David Holmes)

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