AbbVie prices USD 10 billion multi-tranche senior notes offering

AbbVie launched a USD 10 billion multi-tranche senior notes offering, including USD 500 million senior floating rate notes due 2028.

The tranches include fixed-rate senior notes due 2028, 2030, 2031, 2033, 2036, 2038, 2056, and 2066, with coupons ranging from 4.5% to 6.1%.

Net proceeds are expected to be about USD 9.93 billion. AbbVie said the proceeds will fund part of the cash obligations for the Apogee Therapeutics acquisition.

Remaining proceeds are earmarked for general corporate purposes, including potential debt repayment or repurchase. Closing is targeted for Aug. 18, subject to customary conditions.