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ABB prices $1.5B debt offering

ABB Ltd. priced its $1.5 billion bond offering in the U.S.

The net proceeds will be used for general corporate purposes, including partial funding of ABB's pending acquisition of General Electric's Industrial Solutions business.

The bonds will be issued through the technology company's financial subsidiary ABB Finance (USA) Inc. in three tranches, with maturity periods of 2 years, 5 years and 10 years.

The $300 million bonds due 2020 will have a 2.80% coupon rate, the $450 million bonds due 2023 will carry a 3.375% coupon rate and the $750 million bonds due 2028 will carry a 3.80% coupon rate.

The offering is expected to close April 3, subject to customary closing conditions.