Merck's Debt Offerings Just Got "Green-Shoe"-ed -- to $4.25 Billion. . . .

BREAKING: Per MarketWatch, B of A just upped the debt offering's all-in size -- to an indicated $4.25 billion, in the aggregate:

. . . .Merck & Co. is selling $4.25 billion in debt Monday, with portions maturing from 2 years to 30 years, according to Informa Global Markets. The drugmaker increased the amount from $3.5 billion earlier, Informa said. For one of the largest portions, Merck is likely to pay 0.75 percentage point more than 2-year Treasurys, or about 1.89%. The 30-year portion may yield 1.45 points more than Treasurys, or 5.91%, Informa said. . . .

Note also that the spreads are tightening, from the initial indications -- they've come in, about ten bips, over the course of the morning. As ever, more as it develops.

UPDATED -- 06.22.09 @ 7 pm EDT: Some of the debt proceeds may be used to fund the Vioxx Global Settlement, per Merck's evening press release: ". . . .In addition, Merck may use all or a portion of the proceeds to fully fund the two funds established for qualifying claims pursuant to the company's Vioxx litigation settlement agreement, in which case the collateral previously pledged in connection with such funds will be returned to Merck. . . ."

Interesting.