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Abbott's AbbVie Borrows Big



November 12, 2012 – Comments (0)

Abbott's soon-to-be spinoff Abbvie led last weeks borrowing charge with nearly $15 billion in debt spread over 3 to 30-year maturities.  A big chunk of the money heads back to Abbott where it'll finance a tender offer to redeem existing debt.  Basically, looks like a balance sheet shuffle because of the spinoff.

There were also some straight up refinancings and capital expenditures at a couple firms along with the ever-popular 'general corporate purposes.'

Borrows based outside the US made up just under a third of the $36 billion total new issues.  That's about in line with recent weeks. 

As always, comments and questions are welcome here or at the article.

Fool on!  Russ

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