By Aleesia Forni
Virginia Beach, July 29 – Unilever Capital Corp. priced a $1 billion two-part offering of senior notes (A1/A+/A+), according to an informed source and an FWP filing with the Securities and Exchange Commission.
The deal, which priced on Tuesday, included $500 million of 2.1% five-year notes priced at 99.421 to yield 2.223%, or Treasuries plus 63 basis points.
The issue sold at the tight end of guidance set in the Treasuries plus 65 bps area after having tightened from the Treasuries plus 80 bps area.
Also priced was $500 million of 3.1% 10-year bonds with a spread of 98 bps over Treasuries. Pricing was at 98.838 to yield 3.237%.
Guidance was set in the Treasuries plus 100 bps area following initial talk set in the range of Treasuries plus 110 bps to 115 bps.
Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and UBS Securities LLC are the bookrunners.
The notes are guaranteed unconditionally by Unilever NV, Unilever plc and Unilever United States, Inc.
Proceeds will be used for general corporate purposes.
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, Unilever United States, Inc.
|
| Issue: | Senior notes
|
| Amount: | $1 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, UBS Securities LLC
|
| Trade date: | July 28
|
| Settlement date: | July 31
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: A+
|
| Fitch: A+
|
| Distribution: | SEC registered
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | July 30, 2020
|
| Coupon: | 2.1%
|
| Price: | 99.421
|
| Yield: | 2.223%
|
| Spread: | Treasuries plus 63 bps
|
| Price guidance: | Treasuries plus 65 bps area, tightened from Treasuries plus 80 bps area
|
| Make-whole call: | Treasuries plus 10 bps
|
|
|
| 10-year notes
|
| Amount: | $500 million
|
| Maturity: | July 30, 2025
|
| Coupon: | 3.1%
|
| Price: | 98.838
|
| Yield: | 3.237%
|
| Spread: | Treasuries plus 98 bps
|
| Price guidance: | Treasuries plus 100 bps area, tightened from Treasuries plus 110 bps to 115 bps
|
| Make-whole call: | Treasuries plus 15 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
