United Parcel Service pricing 50-year notes at Libor minus 30 bps

By Devika Patel

Knoxville, Tenn., March 28 – United Parcel Service, Inc. intends to price floating-rate senior notes due 2067, according to a 424B5 filed with the Securities and Exchange Commission.

The interest rate will be Libor minus 30 basis points.

The notes are callable at premiums ranging from par to 105 beginning on March 15, 2047.

The notes are also putable on semiannual dates between March 15, 2018 and March 15, 2028 at prices ranging from 98 to 99 and then every two years until March 15, 2046 at par.

UBS Securities LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners.

Proceeds will be used for general corporate purposes.

The package delivery and supply chain management company is based in Atlanta.

© 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.