The Zhitong Finance App learned that according to people familiar with the matter, ABBV.US (ABBV.US) is seeking to sell at least 13 billion US dollars of corporate bonds to fund its acquisition of ImmunoGen (IMGN.US) and Cerevel Therapeutics (CERE.US).
The sale plan is expected to be announced as early as Thursday after a conference call with fixed income investors on Wednesday, according to people familiar with the matter. The scale of this release is subject to change and will be determined on the day of release.
AbbVie did not immediately respond to requests for comment.
According to reports, in December of last year, AbbVie announced two acquisitions in a row — a plan to acquire Cerevel for 8.7 billion US dollars, and a recently completed transaction to acquire ImmunoGen for 10.1 billion US dollars.
Since then, AbbVie said it plans to focus on smaller deals to support its growth over the next decade.
On Tuesday, the pharmaceutical company also appointed Robert Michael to succeed Richard Gonzalez as the company's CEO. The appointment will take effect in July.