Abbott Laboratories' bond spreads narrow after issue

Yields on Abbott Laboratories' 5- and 10-year bonds narrowed relative to benchmark rates the day after they were issued, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

The spread on the Libertyville Towsnship company's 2.7 percent debt due in 2015 tightened 3.9 basis points and that on its 4.125 percent notes due in 2020 decreased 3 basis points, Trace data show. Its 5.3 percent bonds maturing in 2040, also trading for the first day, widened 9.9 basis points. A basis point is 0.01 percentage point.

The maker of the arthritis drug Humira sold $3 billion of notes yesterday in a three-part offering.