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Abbott redeems nearly $2B of debt

Abbott Laboratories said it redeemed nearly $2 billion of its notes on March 22.

The medical device maker redeemed all of the outstanding $947.2 million of its 5.125% notes due 2019 at a redemption price equal to 102.645% of the aggregate principal amount, plus accrued and unpaid interest to, but excluding, the redemption date.

The Abbott Park, Ill.-based company also redeemed $1.05 billion, out of the outstanding $2.85 billion, of its 2.350% notes due 2019 at a redemption price equal to 100% of the aggregate principal amount of the notes. The partial redemption resulted in about $1.80 billion of the 2.350% notes remaining outstanding.