Abbott Laboratories $15.1 billion notes issue

Overview:

• Life sciences company Abbott Laboratories has undertaken a $15.1 billion debt offering.
• The issue consisted of $2.85 billion 2.35% notes due 2019, $2.85 billion 2.9% notes due 2021, $1.5 billion 3.4% notes due 2023, $3 billion 3.75% notes due 2026, $1.65 billion 4.75% notes due 2036, and $3.25 billion 4.9% notes due 2046.
• The proceeds will be used to fund a portion of Abbott's previously announced acquisition of St Jude Medical.
• Merrill Lynch Pierce Fenner & Smith, Barclays Capital, and Morgan Stanley led the group of underwriters.

Kurt Stumpo - Journalist