Abbott Labs three-part, $4 billion bond deal launched via ABN Amro, Morgan Stanley, BofA, JPMorgan

By Ronda Fears

Nashville, May 9 - Abbott Laboratories (A1/AA/AA-) launched a three-part $4 billion bond deal Tuesday via joint bookrunners ABN Amro Securities, Morgan Stanley, Banc of America Securities LLC and JPMorgan Securities.

The three-year tranche, for $500 million, was talked to price at 0.48 points over Treasuries.

The five-year tranche, for $1.5 billion, was talked at 0.6 points over Treasuries.

The 10-year tranche, for $2 billion, was talked 0.76 points over Treasuries.

Abbott Park, Ill.-based Abbott Labs plans to use proceeds to repay commercial paper debt incurred to make a $900 million loan to Boston Scientific Corp. and to make an equity investment of $1.4 billion in Boston Scientific, plus help fund its $4.1 billion acquisition of Guidant Corp.'s vascular intervention and endovascular solutions businesses.

The notes are expected to price Tuesday.

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