By Cristal Cody
Chicago, Jan. 13 – KeySpan Gas East Corp. sold $400 million of 30-year notes with a 3.586% coupon (//A-) on Wednesday to yield 150 basis points over Treasuries, a market source noted.
The notes were talked to yield in the 160 bps to 165 bps area over Treasuries.
Bookrunners were J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and Wells Fargo Securities LLC.
Proceeds of the Rule 144A and Regulation S notes will be used for general corporate purposes, according to Fitch Ratings.
The utility is based in Hicksville, N.Y.
| Issuer: | KeySpan Gas East Corp.
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| Amount: | $400 million
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| Issue: | Notes
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| Maturity: | Jan. 18, 2052
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| Bookrunners: | J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and Wells Fargo Securities LLC
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| Coupon: | 3.586%
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| Spread: | Treasuries plus 150 bps
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| Trade date: | Jan. 12
|
| Rating: | Fitch: A-
|
| Distribution: | Rule 144A and Regulation S
|
| Talk: | Treasuries plus 160 bps to 165 bps area
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