American pharmaceutical research and development firm AbbVie issued US$10 billion in bonds during August.
Split across nine tranches, net proceeds from the notes are expected to be used to fund cash payment obligations connected to AbbVie’s acquisition of Apogee Therapeutics, a US$10.9 billion all-cash deal completed earlier this month. Remaining funds will be used for general corporate purposes, with scope to repay or repurchase outstanding debt.
The notes are due between 2028 and 2066.
The smallest tranches, with notional values of US$500 million, are due August 2028 with a 4.061% coupon and September 2066 with a 6.1% coupon respectively.
Four of the tranches are valued at US$1.5 billion, due September 2031 (4.875%), September 2036 (5.3%), and September 2056 (6%). Two more segments were issued at US$1.25 billion, due March 2030 with a 4.65% coupon and September 2033 with 5.05% coupon.
The notes were rated A- by S&P Global, while the company was upgraded to A2 by Moody’s at the start of the year.
©Markets Media Europe 2026
