By Aleesia Forni
Virginia Beach, Va., Sept. 19 - Nissan Motor Acceptance Corp. priced a two-part $1 billion offering of notes (A3/BBB+/) on Thursday, according to a market source.
The company priced $700 million floating-rate notes due 2016 at par to yield Libor plus 70 basis points.
There was also $300 million of 2.65% five-year notes sold with a spread of 120 bps over Treasuries.
Pricing was at 99.888 to yield 2.674% and was done under Rule 144A and Regulation S.
Bookrunners were BofA Merrill Lynch, Citigroup Global Markets Inc., Barclays and HSBC Securities.
The financing and leasing company for Nissan vehicles is based in Irving, Texas.
| Issuer: | Nissan Motor Acceptance Corp.
|
| Guarantor: | Nissan Motor Co. Ltd.
|
| Issue: | Notes
|
| Amount: | $1 billion
|
| Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., Barclays, HSBC Securities
|
| Trade date: | Sept. 19
|
| Settlement date: | Sept. 26
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB+
|
|
|
| Three-year floaters
|
| Amount: | $700 million
|
| Maturity: | Sept. 26, 2016
|
| Coupon: | Libor plus 70 bps
|
| Price: | Par
|
| Yield: | Libor plus 70 bps
|
|
|
| Five-year notes
|
| Amount: | $300 million
|
| Maturity: | Sept. 26, 2018
|
| Coupon: | 2.65%
|
| Price: | 99.888
|
| Yield: | 2.674%
|
| Spread: | Treasuries plus 120 bps
|
| Make-whole call: | Treasuries plus 20 bps
|
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