By Andrea Heisinger
New York, March 28 - Keyspan Gas East Corp. sold a benchmark $500 million of 5.819% 30-year bonds (A3/A/) on Monday to yield Treasuries plus 130 basis points, said a source close to the sale.
The bonds were sold at the tight end of guidance, which was in the range of 130 bps to 135 bps over Treasuries.
Full terms of the bonds were not available at press time.
The bonds were priced under Rule 144A.
Bookrunners were Barclays Capital Inc., RBC Capital Markets Corp., Societe Generale and TD Securities (USA) Inc.
The utility is based in Hicksville, N.Y.
| Issuer: | Keyspan Gas East Corp.
|
| Issue: | Bonds
|
| Amount: | $500 million
|
| Maturity: | April 1, 2041
|
| Bookrunners: | Barclays Capital Inc., RBC Capital Markets Corp., Societe Generale, TD Securities (USA) Inc.
|
| Coupon: | 5.819%
|
| Spread: | Treasuries plus 130 bps
|
| Distribution: | Rule 144A
|
| Trade date: | March 28
|
| Settlement date: | March 31
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Price talk: | 130 bps to 135 bps
|
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