Aug. 5 at 12:52 AM
AbbVie launched a
$10 billion investment-grade bond offering to help finance its pending
$10.9 billion acquisition of Apogee Therapeutics, with demand reaching approximately
$63 billion, according to sources familiar with the deal. The offering, originally expected to raise at least
$8 billion, includes nine tranches with maturities ranging from 2 to 40 years, while pricing tightened significantly as investor demand exceeded expectations.
The proceeds will fund the acquisition, announced in June and expected to close this quarter, strengthening AbbVie's immunology portfolio as competition intensifies for its blockbuster drug Skyrizi. The financing follows stronger-than-expected second-quarter results, supported by robust demand in the company's immunology and neuroscience businesses and improving trends in its Botox franchise.
The transaction is one of the largest U.S. investment-grade bond sales of 2026 outside the AI-driven financing boom.
$ABBV $APGE