Abbott Laboratories to hold investor call Tuesday for $4 billion three-part note offering

By Paul A. Harris

St. Louis, May 8 - Abbott Laboratories will hold an investor call on Tuesday morning for its $4 billion offering of 14-year notes (A1/AA/AA-) in three tranches, according to a market source.

The notes are expected to price following the call and to settle on Friday.

One tranche of the 14-year notes will pay a fixed rate of interest for three years, after which it will pay interest at a floating rate. Another tranche will pay a fixed rate for five years, and the final tranche will pay a fixed rate for 10 years.

ABN Amro, Banc of America Securities LLC, JP Morgan and Morgan Stanley are joint bookrunners for the Securities and Exchange Commission-registered transaction.

Proceeds will be used to repay commercial paper debt incurred to make a $900 million loan to Boston Scientific, to make an equity investment of $1.4 billion in Boston Scientific and to help fund the $4.1 billion acquisition of Guidant's vascular intervention and endovascular solutions businesses.

The prospective issuer is an Abbott Park, Ill., pharmaceutical company.

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