We advised the representatives of the underwriters on the offering

Davis Polk advised the representatives of the underwriters, in connection with an SEC-registered offering by AbbVie Inc. of $8 billion aggregate principal amount of senior notes in four series, consisting of $750 million senior floating-rate notes due 2028, $1.5 billion of 3.775% senior notes due 2028, $1.25 billion of 4.125% senior notes due 2031, $1.25 billion of 4.400% senior notes due 2033, $1.5 billion of 4.750% senior notes due 2036, $1.25 billion of 5.550% senior notes due 2056 and $500 million of 5.650% senior notes due 2066. AbbVie expects to use the net proceeds from the offering to repay amounts outstanding under the 364-day delayed draw term loan facility that matures in May 2026, of which $2 billion is currently outstanding, and for general corporate purposes, which may include the repayment or repurchase of outstanding debt.

AbbVie is a global, diversified research-based biopharmaceutical company positioned for success with a comprehensive product portfolio that has leadership positions across immunology, neuroscience, oncology and aesthetics. AbbVie uses its expertise, dedicated people and unique approach to innovation to develop and market advanced therapies that address some of the world’s most complex and serious diseases.

The Davis Polk capital markets team included partner Richard D. Truesdell Jr., counsel Steven Glendon and associates Xi (Brooke) Zheng and Sijia (Scarlett) Huang. The tax team included partner Patrick E. Sigmon and associate Jenna Battaglia. Partner David R. Bauer and associates Jordan Khorshad and Anne Kim provided intellectual property advice. Counsel David A. Zilberberg provided environmental advice. All members of the Davis Polk team are based in the New York office.

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