By Andrea Heisinger
New York, Feb. 26 - Abbott Laboratories priced $3 billion senior unsecured notes (A1/AA/) in two tranches Thursday, syndicate sources said.
The $2 billion of 5.125% 10-year notes priced at 99.567 to yield 5.18%, or Treasuries plus 220 basis points.
The $1 billion of 6% 30-year notes priced at 99.771 to yield 6.016%, or Treasuries plus 235 bps.
Active bookrunners were Banc of America Securities LLC, J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc., with RBS Greenwich Capital a passive bookrunner.
Proceeds will be used to repay commercial paper and for general corporate purposes.
The health care products company is based in Abbott Park, Ill.
| Issuer: | Abbott Laboratories
|
| Issue: | Senior unsecured notes
|
| Total amount: | $3 billion
|
| Bookrunners: | Banc of America Securities LLC, J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc. (active), RBS Greenwich Capital (passive)
|
| Trade date: | Feb. 26
|
| Settlement date: | March 3
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA
|
|
|
| 10-year notes
|
| Amount: | $2 billion
|
| Maturity: | April 1, 2019
|
| Coupon: | 5.125%
|
| Price: | 99.567
|
| Yield: | 5.18%
|
| Spread: | Treasuries plus 220 bps
|
|
|
| 30-year notes
|
| Amount: | $1 billion
|
| Maturity: | April 1, 2039
|
| Coupon: | 6%
|
| Price: | 99.771
|
| Yield: | 6.016%
|
| Spread: | Treasuries plus 235 bps
|
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