By Devika Patel
Knoxville, Tenn., Sept. 3 – Unilever Capital Corp. priced $1.35 billion of senior guaranteed notes (A1/A+) in two tranches, including an add-on, on Tuesday, according to an FWP filed with the Securities and Exchange Commission.
Unilever sold $500 million of 2.6% notes at a 55 bps spread over Treasuries, which is an add-on of the company’s 2.6% notes due May 5, 2024. These notes priced at 102.995 to yield 1.902%.
The company originally sold $500 million of the 2.6% notes on May 2, 2017. The notes were priced with a spread of 67 bps over Treasuries.
The company priced $850 million of 2.125% notes at a spread of Treasuries plus 75 bps. These notes priced at 99.099 to yield 2.226%.
BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Mizuho Securities USA Inc. are the bookrunners.
The notes are guaranteed unconditionally by Unilever NV, Unilever plc and Unilever United States, Inc.
Proceeds will be 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.
|
| Amount: | $1.35 billion
|
| Description: | Senior notes
|
| Bookrunners: | BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Mizuho Securities USA Inc.
|
| Trade date: | Sept. 3
|
| Settlement date: | Sept. 6
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
|
|
| 2024 notes
|
| Amount: | $500 million reopening
|
| Maturity: | May 5, 2024
|
| Coupon: | 2.6%
|
| Price: | 102.995
|
| Yield: | 1.902%
|
| Spread: | Treasuries plus 55 bps
|
| Call feature: | Make-whole call at Treasuries plus 12.5 bps until March 5, 2024, then a par call
|
| Total outstanding: | $1 billion, including $500 million priced on May 2, 2017
|
|
|
| 2029 notes
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| Amount: | $850 million
|
| Maturity: | Sept. 6, 2029
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| Coupon: | 2.125%
|
| Price: | 99.099
|
| Yield: | 2.226%
|
| Spread: | Treasuries plus 75 bps
|
| Call feature: | Make-whole call at Treasuries plus 15 bps until June 6, 2029, then a par call
|
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