By Marisa Wong
Los Angeles, April 25 – American Honda Finance Corp. (A3/A-) priced $500 million of floating-rate medium-term notes, series A, due April 29, 2025 at par, according to an FWP filing with the Securities and Exchange Commission.
The initial interest rate will be based on compounded SOFR determined on July 25, but accruing interest starting April 29, plus a spread of 45 basis points. The interest rate is subject to a floor of 0% and resets on every quarterly payment date.
TD Securities (USA) LLC is the bookrunner.
American Honda Finance is a Torrance, Calif.-based financing arm of American Honda Motor Co.
| Issuer: | American Honda Finance Corp.
|
| Amount: | $500 million
|
| Issue: | Floating-rate medium-term notes, series A
|
| Maturity: | April 29, 2025
|
| Bookrunner: | TD Securities (USA) LLC
|
| Coupon: | SOFR plus 45 bps, subject to floor of 0%; resets quarterly; initial coupon based on SOFR determined July 25, but interest accrues starting April 29
|
| Price: | Par
|
| Yield: | SOFR plus 45 bps
|
| Trade date: | April 25
|
| Settlement date: | April 29
|
| Issuer ratings: | Moody’s: A3
|
| S&P: A-
|
| Distribution: | SEC registered
|
| Cusip: | 02665WFG1
|
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