Abbott Laboratories, St. Jude unit redeem $4 billion of senior notes

By Sarah Lizee

Olympia, Wash., Oct. 29 – Abbott Laboratories and subsidiary St. Jude Medical, LLC redeemed on Oct. 28 a total of $3,996,600,000 of their senior notes, according to an 8-K filing with the Securities and Exchange Commission.

The notes were redeemed at the following redemption prices plus accrued interest to the redemption date:

• All $596,614,000 of its outstanding 4.125% notes due 2020 at 101.814;

• All $750 million of its outstanding 2% notes due 2020 at par;

• $450 million of its $1.5 billion outstanding 3.4% notes due 2023 at 100.94;

• $1.3 billion of its $3 billion outstanding 3.75% notes due 2026 at 103.033;

• All $818,429,000 of its outstanding 3.25% senior notes due 2023 at 100.297; and

• All $81,557,000 of St. Jude Medical’s outstanding 3.25% senior notes due 2023 at 100.297.

The partial redemption of the 3.4% notes and the 3.75% notes resulted in $1.05 billion and $1.7 billion principal amount of the 3.4% notes and the 3.75% notes remaining outstanding, respectively.

Abbott is an Abbott Park, Ill., health care company with offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals.

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