Biotech Values

[DewDiligence]

ABBV issues $14.7B of debt in six tranches in third-largest debt deal ever by a corporation (and largest by any corporation since 2009):

http://finance.yahoo.com/news/abbott-pharma-spinoff-completes-record-224700571.html

AbbVie sold $3.5 billion of three-year fixed-rated notes at Treasuries plus 85 basis points (bp), tighter than its launch price guidance of Treasuries plus 90 basis points area.

It sold $500 million of three-year floating-rate notes at Libor plus 76bp, in line with guidance.

The company also sold $4 billion of five-year notes at Treasuries plus 110bp, $1 billion of six-year notes at Treasuries plus 140bp, $3.1 billion of 10-year notes at Treasuries plus 130bp and $2.6 billion of 30-year notes at Treasuries plus 160bp.

The point of all this? See #msg-80930013.