3M Healthcare Unit Solventum Joins $53 Billion US Corporate Bond Sales Spree.

J.P. Morgan Chase & Co.; BANK of America Corp.; BOND prices; DENTAL adhesives; MEDICAL care; ELECTRONIC equipment; CORPORATE bonds; PRICES

3M Co.'s healthcare unit, Solventum Corp., is participating in a $53 billion borrowing spree in the US corporate bond market. The company plans to sell bonds in multiple parts, with the proceeds going towards a payment to 3M. The longest portion of the offering, a 40-year security, is expected to yield 1.9 percentage points above Treasuries. This borrowing spree follows 3M's announcement to spin off its healthcare operations, which is expected to occur in the first half of 2024. The bond sale is being managed by Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley. [Extracted from the article]

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