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Abbvie 7Pt Jumbo Guidance Updated

PIPELINE

Headlines say the orderbook is over $80B at the moment. Updated guidance usually a sign the package should launch soon.

  • Date $MM Issuer (Priced *, Launch #)
  • 2/22 $Benchmark Abbvie** 3Y +35, 5Y +50, 7Y +60, 10Y +75, 20Y +75, 30Y +95, 40Y +105
  • 2/22 $2B *Federal Rep of Germany (KFW) 10Y +51
  • 2/22 $2B #BNG Bank 3Y SOFR +32
  • 2/22 $1B Royal Caribbean 8NC3
  • 2/22 $700M #Northern States WNG 30Y +97
  • 2/22 $Benchmark Caterpillar 2Y +35, 2Y SOFR+46, 5Y +55
  • 2/22 $Benchmark Exelon 5Y +87.5, 10Y +115, 29Y +130
  • 2/22 $Benchmark Panama 7Y 8%a, 13Y 8.5%a, 33Y 8.75%a
  • **Abbvie held investor calls yesterday after filing funding offer to fund Immunogen deal. According to Abbvie, the transaction was "valued at $31.26 per share in cash, for a total equity value of approximately $10.1B." For historical context, back on November 12, 2019, Abbvie issued $30B debt over 10 tranches, making it the fifth largest issuance on record.
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