By Cristal Cody
Eureka Springs, Ark., June 8 – FMS Wertmanagement sold $1.5 billion of 1.375% five-year senior notes at 99.383 to yield 1.504% on Wednesday, according to an FWP filing with the Securities and Exchange Commission.
The notes (Aaa/AAA/AAA) priced at mid-swaps plus 31 basis points, or Treasuries plus 28 bps.
Barclays, BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and Goldman Sachs International were the bookrunners.
The company has applied for the notes to be listed on the Luxembourg Stock Exchange.
Proceeds will be used to refinance existing liabilities in order to replace maturing, short-term money market instruments with long-term funding and for general corporate purposes.
The financial services company is based in Munich.
| Issuer: | FMS Wertmanagement
|
| Amount: | $1.5 billion
|
| Maturity: | June 8, 2021
|
| Securities: | Senior notes
|
| Bookrunners: | Barclays, BNP Paribas Securities Corp., Deutsche Bank Securities Inc., Goldman Sachs International
|
| Co-managers: | RBC Capital Markets, LLC, Toronto-Dominion Bank
|
| Coupon: | 1.375%
|
| Price: | 99.383
|
| Yield: | 1.504%
|
| Spread: | Mid-swaps plus 31 bps, or Treasuries plus 28 bps
|
| Pricing date: | June 8
|
| Settlement date: | June 15
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Distribution: | SEC registered
|
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