By Lisa Kerner
Charlotte, N.C., July 26 – Unilever Capital Corp. priced $1.25 billion of senior notes (A1/A+/A+) in two parts, according to an FWP filing with the Securities and Exchange Commission.
The company priced $550 million of 1.375% five-year notes at 99.204% to yield 1.541%. The notes sold at 40 basis points over Treasuries, on the tight side of guidance.
Unilever priced $700 million of 2% 10-year notes at 99.417 to yield 2.177%. The notes sold with a spread of 60 bps over Treasuries, tighter than talk, according to a market source.
The notes are guaranteed unconditionally by Unilever NV, Unilever plc and Unilever United States, Inc.
Goldman Sachs & Co., J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and Morgan Stanley & Co. LLC were the bookrunners.
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 and Unilever United States, Inc.
|
Issue: | Senior notes
|
Amount: | $1.25 billion
|
Bookrunners: | Goldman Sachs & Co., J.P. Morgan Securities LLC, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC
|
Trade date: | July 25
|
Settlement date: | July 28
|
Ratings: | Moody’s: A1
|
| S&P: A+
|
| Fitch: A+
|
Distribution: | SEC registered
|
|
Five-year notes
|
Amount: | $550 million
|
Maturity: | July 8, 2021
|
Coupon: | 1.375%
|
Price: | 99.204
|
Yield: | 1.541%
|
Spread: | Treasuries plus 40 bps
|
Price guidance: | Treasuries plus 45 bps area, tightened from Treasuries plus 55 bps area
|
Make-whole call: | Treasuries plus 10 bps
|
|
10-year notes
|
Amount: | $700 million
|
Maturity: | July 28, 2026
|
Coupon: | 2%
|
Price: | 98.417
|
Yield: | 2.177%
|
Spread: | Treasuries plus 60 bps
|
Price guidance: | Treasuries plus 65 bps area, tightened from Treasuries plus 75 bps area
|
Make-whole call: | Treasuries plus 10 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.