By Andrea Heisinger
New York, April 3 - Colonial Pipeline Co. priced $350 million of 4.2% 30-year bonds (A2/A/) on Wednesday to yield Treasuries plus 118 basis points, a market source said.
Pricing was at 99.223 to yield 4.246%. There is a make-whole call at Treasuries plus 20 bps to Oct. 15, 2042 and a par call after that date.
The trade was done under Rule 144A and Regulation S.
Bookrunners were RBS Securities Inc., Wells Fargo Securities LLC and Mitsubishi UFJ Securities (USA) Inc.
Colonial last was in the U.S. bond market with a $275 million sale of 3.5% 10-year notes priced at 95 bps over Treasuries on Oct. 15, 2010.
The fuel pipeline operator is based in Alpharetta, Ga.
| Issuer: | Colonial Pipeline Co.
|
| Issue: | Notes
|
| Amount: | $350 million
|
| Maturity: | April 15, 2043
|
| Bookrunners: | RBS Securities Inc., Wells Fargo Securities LLC, Mitsubishi UFJ Securities (USA) Inc.
|
| Coupon: | 4.2%
|
| Price: | 99.223
|
| Yield: | 4.246%
|
| Spread: | Treasuries plus 118 bps
|
| Call: | Make-whole at Treasuries plus 20 bps to Oct. 15, 2042, par call after
|
| Distribution: | Rule 144A, Regulation S
|
| Trade date: | April 3
|
| Settlement date: | April 10
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
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