AbbVie agreed on February 22, 2024 with Morgan Stanley & Co. LLC and others to issue and sell $15.0 billion of senior notes in a registered public offering.

1. 01

   AbbVie agreed on February 22, 2024 with Morgan Stanley & Co. LLC and others to issue and sell $15.0 billion of senior notes in a registered public offering.

2. 02

   The company said the notes consist of 2027 notes at 4.800% totaling $2,250,000,000, 2029 notes at 4.800% totaling $2,500,000,000, 2031 notes at 4.950% totaling $2,000,000,000, 2034 notes at 5.050% totaling $3,000,000,000, 2044 notes at 5.350% totaling $750,000,000, 2054 notes at 5.400% totaling $3,000,000,000, and 2064 notes at 5.500% totaling $1,500,000,000.

3. 03

   AbbVie said each series of notes will mature on March March 15 of the applicable year. It added that the notes are unsecured, unsubordinated obligations and rank equally in right of payment with all of its existing and future unsecured, unsubordinated indebtedness, liabilities and other obligations.

4. 04

   AbbVie said it expects to use the net proceeds to prepay the $5.0 billion 364-day-day term loan, together with cash on hand to fund its acquisition of Cerevel Therapeutics Holdings, to repay commercial paper borrowings, to pay fees and expenses, and for general corporate purposes.

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Original filing

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