Baxter seeks to raise $600 million

Baxter International Inc., the maker of treatments for blood disorders, plans to sell $600 million of notes in two equal parts, according to a person familiar with the offering.

The Deerfield-based company will issue $300 million of debt due in 2013 that may pay 50 basis points more than similar-maturity Treasuries and $300 million of bonds due in 2020 that may pay 70 basis points over the benchmarks, said the person, who declined to be identified because terms aren't set. A basis point is 0.01 percentage point.

The notes may be sold as soon as today, the person said.