Abbott to sell $3 billion of debt

LIBERTYVILLE TOWNSHIP - Abbott Laboratories, maker of insulin pumps and heart stents to prop open clogged arteries, plans to sell $3 billion of bonds due in 10 and 30 years, according to a person familiar with the offering. The sale will be split between $2 billion of 10-year notes that may price to yield about 220 basis points more than similar- maturity Treasuries, and $1 billion of 30-year bonds that may pay a spread of about 235 basis points, said the person, who declined to be identified because terms aren't set. A basis point is 0.01 percentage point. Company spokesman Scott Stoffel said he could not comment.