By Andrea Heisinger
Omaha, Oct. 30 - The McGraw-Hill Cos. priced $1.2 billion of senior unsecured notes (A1//A+) in three tranches Tuesday, an informed source said.
A $400 million tranche of five-year notes priced to yield Treasuries plus 135 basis points; a $400 million tranche of 10-year notes priced at Treasuries plus 155 bps; and a $400 million tranche of 30-year notes priced at Treasuries plus 190 bps.
Full terms were not immediately available Tuesday.
Bookrunners were Deutsche Bank, J.P. Morgan Securities and RBS.
Proceeds will be used for general corporate purposes, including working capital, repayment of borrowings, capital expenditures, acquisitions and stock repurchases.
The financial, education and business information publishing company is based in New York City.
| Issuer: | The McGraw-Hill Cos.
|
| Issue: | Senior unsecured notes
|
| Total amount: | $1.2 billion
|
| Bookrunners: | Deutsche Bank, J.P. Morgan Securities, RBS
|
| Trade date: | Oct. 30
|
| Ratings: | Moody's: A1
|
| Fitch: A+
|
|
|
| Five-year tranche
|
| Amount: | $400 million
|
| Maturity: | 2012
|
| Spread: | Treasuries plus 135 bps
|
|
|
| 10-year tranche
|
| Amount: | $400 million
|
| Maturity: | 2017
|
| Spread: | Treasuries plus 155 bps
|
|
|
| 30-year tranche
|
| Amount: | $400 million
|
| Maturity: | 2037
|
| Spread: | Treasuries plus 190 bps
|
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