AbbVie made the fourth largest corporate bond sale of all time when it sold $30 billion worth of bonds to partially finance its $83 billion takeover of Allergan, the Financial Times reports.
What you should know:
1. AbbVie split the bond offering across 10 offerings, with maturity rates between 18 months and 30 years.
2. It was the largest bond offering since CVS raised $40 billion to take over Aetna.
3. High demand for the bonds among traders will reduce how much AbbVie has to borrow to fund the rest of its acquisition.
4. AbbVie now has a total debt around $90 billion, making it one of the most indebted companies in the world.