Abbott Unit Sells $14.7 Bln Bonds

Issue is largest dollar-denominated sale since 2009.

Abbott Laboratories sold $14.7 billion of bonds yesterday in the largest dollar-denominated offering in more than three years as the drug and medical-device maker prepares to split in two.

Abbott issued bonds in six parts through its AbbVie Inc. pharmaceutical unit, ranging in size from $500 million to $4 billion, according to data compiled by Bloomberg. Proceeds will help fund a $7.7 billion tender offer related to AbbVie’s spinoff.

Growth Outlook

The bonds are rated Baa1 by Moody’s Investors Service, the ratings company said yesterday in a statement.

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