Altria Group selling 10-, 30-year guaranteed senior notes Monday

By Andrea Heisinger

New York, April 29 - Altria Group, Inc. is set to price senior notes (Baa1/BBB/BBB+) in two tranches during Monday's session, an informed source said.

The offering is expected to include a 10-year note and 30-year bond.

Bookrunners are Barclays, Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc. and Wells Fargo Securities LLC.

There is a change-of-control put at 101%.

Proceeds will be used for general corporate purposes.

The securities are guaranteed by Richmond, Va.-based parent Philip Morris USA Inc., a cigarette and smokeless tobacco product maker.

Altria last tapped the U.S. bond market with a $2.8 billion sale of notes in two tranches on Aug. 6, 2012. That offering included a 2.85% 10-year note priced at 130 basis points over Treasuries and a 4.25% 30-year bond sold at Treasuries plus 168 bps.

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