Baxter Sells $3.5 Billion of Bonds in Five Parts for Gambro Deal

Baxter International Inc., the world’s second-largest maker of dialysis products, issued $3.5 billion of debt in five parts to help fund its 18.3 billion kronor ($2.8 billion) acquisition of Gambro AB.

The company’s $500 million of 0.95 percent, three-year notes yield 50 basis points more than similar-maturity Treasuries, $750 million of 1.85 percent, five-year debt pay a relative yield of 80 basis points, $1.25 billion of 3.2 percent, 10-year securities have a 110 basis-point spread and $500 million of 4.5 percent, 30-year bonds pay 122, according to data compiled by Bloomberg. The company also sold $500 million of 18-month, floating-rate notes to yield 17 basis points more than the three-month London interbank offered rate.