By Andrea Heisinger
New York, Oct. 13 - Anheuser-Busch Cos. Inc. sold an upsized $5.5 billion of notes (Baa2/BBB+/) in four tranches late on Tuesday, a market source said.
The Rule 144A deal was upsized from an original three tranches and priced after 5 p.m. ET. There was about $13 billion on the books for the sale, a source away from it said.
The $1.5 billion of 3% three-year notes priced at 99.852 to yield 3.052%, or Treasuries plus 160 basis points.
The $1.25 billion of 4.125% notes due Jan. 15, 2015 priced at 99.863 to yield 4.151%, or 185 bps over Treasuries.
A $2.25 billion tranche of 5.375% notes due Oct. 15, 2020 priced at 99.345 to yield 5.456%, or Treasuries plus 210 bps.
The $500 million of 6.375% notes due Jan. 15, 2040 priced at 99.459 to yield 6.413%, or Treasuries plus 220 bps.
Bank of America Merrill Lynch, Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc. ran the books.
The subsidiary of beer maker Anheuser-Busch InBev is based in St. Louis.
| Issuer: | Anheuser-Busch Cos. Inc.
|
| Issue: | Notes
|
| Total amount: | $5.5 billion
|
| Bookrunners: | Bank of America Merrill Lynch, Deutsche Bank Securities Inc., J.P. Morgan Securities Inc.
|
| Distribution: | Rule 144A
|
| Trade date: | Oct. 13
|
| Settlement date: | Oct. 16
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
|
|
| Three-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | Oct. 15, 2012
|
| Coupon: | 3%
|
| Price: | 99.852
|
| Yield: | 3.052%
|
| Spread: | Treasuries plus 160 bps
|
|
|
| Notes due 2015
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 15, 2015
|
| Coupon: | 4.125%
|
| Price: | 99.863
|
| Yield: | 4.151%
|
| Spread: | Treasuries plus 185 bps
|
|
|
|
|
| Notes due 2020
|
| Amount: | $2.25 billion
|
| Maturity: | Oct. 15, 2020
|
| Coupon: | 5.375%
|
| Price: | 99.345
|
| Yield: | 5.456%
|
| Spread: | Treasuries plus 210 bps
|
|
|
| Notes due 2040
|
| Amount: | $500 million
|
| Maturity: | Jan. 15, 2040
|
| Coupon: | 6.375%
|
| Price: | 99.459
|
| Yield: | 6.413%
|
| Spread: | Treasuries plus 220 bps
|
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