Summary by Moomoo AI
On February 22, 2024, AbbVie Inc. successfully entered into an underwriting agreement with major financial institutions including Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, BofA Securities, Inc., and Citigroup Global Markets Inc. The agreement facilitated a public offering where AbbVie issued $15.0 billion in senior notes with varying maturities ranging from 2027 to 2064. The notes were registered under the Securities Act of 1933, as amended, and are unsecured and unsubordinated, ranking equally with AbbVie's other similar obligations. AbbVie intends to use the net proceeds from the notes to prepay a term loan, fund acquisitions, repay borrowings under its commercial paper program, cover fees and expenses related to these activities, and for general corporate purposes. The offering was made pursuant to a prospectus supplement filed with the SEC on February 26, 2024.