By Cristal Cody
Tupelo, Miss., Sept. 8 – Unilever Capital Corp. sold $1 billion of guaranteed senior notes (A1/A+/A+) in two parts on Tuesday, according to a market source.
The company priced $500 million of 0.375% three-year notes at a spread of Treasuries plus 25 basis points.
Initial price talk was in the Treasuries plus 50 bps area.
A $500 million offering of 1.375% 10-year notes priced at a Treasuries plus 70 bps spread.
The notes were talked to print in the 95 bps spread area.
BofA Securities, Inc., J.P. Morgan Securities LLC, NatWest Markets Securities Inc. and Santander Investment Securities Inc. were the bookrunners.
The notes are guaranteed by Unilever NV, Unilever plc and Unilever United States, Inc.
Proceeds will be used for general corporate purposes, possibly for acquisitions and to meet maturities of outstanding borrowings, including the redemption of the company’s $550 million 1.375% senior notes due 2021.
The U.S. office of the Dutch and English consumer goods company is based in Englewood Cliffs, N.J.
| Issuer: | Unilever Capital Corp.
|
| Guarantors: | Unilever NV, Unilever plc and Unilever United States, Inc.,
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| Amount: | $1 billion
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| Description: | Senior notes
|
| Bookrunners: | BofA Securities, Inc., J.P. Morgan Securities LLC, NatWest Markets Securities Inc. and Santander Investment Securities Inc.
|
| Trade date: | Sept. 8
|
| Ratings: | Moody’s: A1
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| S&P: A+
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| Fitch: A+
|
| Distribution: | SEC registered
|
|
|
| Three-year notes
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| Amount: | $500 million
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| Maturity: | Sept. 14, 2023
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| Coupon: | 0.375%
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| Spread: | Treasuries plus 25 bps
|
| Price guidance: | Treasuries plus 50 bps area
|
|
|
| 10-year notes
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| Amount: | $500 million
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| Maturity: | Sept. 14, 2030
|
| Coupon: | 1.375%
|
| Spread: | Treasuries plus 70 bps
|
| Price guidance: | Treasuries plus 95 bps area
|
|
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