By Cristal Cody
Tupelo, Miss., May 2 – Unilever Capital Corp. sold $3.15 billion of senior notes (A1/A+/A+) in four tranches on Tuesday, according to a market source.
The company priced $800 million of 1.8% three-year notes at a spread of Treasuries plus 47 basis points.
Unilever sold $850 million of 2.2% five-year notes at a Treasuries plus 57 bps spread.
The company placed $500 million of 2.6% seven-year notes with a spread of 67 bps over Treasuries.
Unilever also brought $1 billion of 2.9% 10-year notes at a Treasuries plus 80 bps spread.
Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.
The notes are guaranteed unconditionally by Unilever NV, Unilever plc and Unilever United States, Inc., according to a 424B3 filed with the Securities and Exchange Commission.
The 2022 notes are callable at the greater of a make-whole call and a par call. The other notes will feature a make-whole call and then a par call.
Proceeds will be used for Unilever's previously announced share buy-back program and 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.
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Guarantors: | Unilever NV, Unilever plc and Unilever United States, Inc.
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Amount: | $3.15 billion
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Description: | Senior notes
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Bookrunners: | Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
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Trade date: | May 2
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Ratings: | Moody’s: A1
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| S&P: A+
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| Fitch: A+
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Distribution: | SEC registered
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Three-year notes
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Amount: | $800 million
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Maturity: | May 5, 2020
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Coupon: | 1.8%
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Spread: | Treasuries plus 47 bps
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Price guidance: | Treasuries plus 50 bps area, plus or minus 3bps
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|
Five-year notes
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Amount: | $850 million
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Maturity: | May 5, 2022
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Coupon: | 2.2%
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Spread: | Treasuries plus 57 bps
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Price guidance: | Treasuries plus 60 bps area, plus or minus 3 bps
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|
Seven-year notes
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Amount: | $500 million
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Maturity: | May 5, 2024
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Coupon: | 2.6%
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Spread: | Treasuries plus 67 bps
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Price guidance: | Treasuries plus 70 bps area, plus or minus 3 bps
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10-year notes
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Amount: | $1 billion
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Maturity: | May 5, 2027
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Coupon: | 2.9%
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Spread: | Treasuries plus 80 bps
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Price guidance: | Treasuries plus 80 bps area
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