By Andrea Heisinger
New York, March 1 - Paccar Financial Corp. priced $500 million of 1.6% five-year medium-term notes (A1/A+/) on Thursday at a spread of Treasuries plus 70 basis points, a market source said.
Full terms were not available at press time.
Bank of America Merrill Lynch, Barclays Capital Inc. and Goldman Sachs & Co. were the bookrunners.
Proceeds will be used for general corporate purposes.
Paccar last sold bonds in a $400 million deal of three-year notes on Sept. 26, 2011.
The provider of retail and commercial truck financing for Paccar Inc. is based in Bellevue, Wash.
| Issuer: | Paccar Financial Corp.
|
| Issue: | Medium-term notes
|
| Amount: | $500 million
|
| Maturity: | 2017
|
| Bookrunners: | Bank of America Merrill Lynch, Barclays Capital Inc., Goldman Sachs & Co.
|
| Coupon: | 1.6%
|
| Yield: | 1.604%
|
| Spread: | Treasuries plus 70 bps
|
| Trade date: | March 1
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
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