Baxter to sell $350 mil of 5-year notes

Baxter International Inc., the world's largest maker of blood-disease treatments, plans to sell $350 million of five-year notes, according to a person familiar with the offering.

The sale of senior unsecured notes may occur as soon as today, said the person, who declined to be identified because terms aren't set.

The debt may be rated A3 by Moody's Investors Service, the seventh level of investment quality, and two steps higher at A+ by Standard & Poor's, the person said.

Deutsche Bank AG and UBS AG are managing the sale for Deerfield, Illinois-based Baxter, the person said.