By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, April 21 – CSL Finance plc priced $4 billion of notes in six tranches on Wednesday, according to a market source.
The Rule 144A and Regulation S note are guaranteed by parent company CSL Ltd.
The company priced $500 million of 3.85% five-year notes at Treasuries plus 100 basis points, below talk for a spread in the 130 bps area.
It priced $500 million of 4.05% seven-year notes at Treasuries plus 120 bps, compared to initial talk in the Treasuries plus 150 bps area.
CSL sold $1 billion of 4.25% 10-year notes at Treasuries plus 145 bps, versus initial talk in the Treasuries plus 170 bps area.
The company sold $500 million of 4.625% 20-year notes at Treasuries plus 155 bps, compared to initial talk in the Treasuries plus 190 bps area.
Additionally, CSL sold $1 billion of 4.75% 30-year notes at Treasuries plus 185 bps, versus initial talk in the Treasuries plus 210 bps area.
Finally, a $500 million tranche of 4.95% 40-year notes priced at Treasuries plus 205 bps, below talk in the Treasuries plus 230 bps area.
BofA, Citigroup, HSBC and JPMorgan were the bookrunners.
CSL intends to use proceeds from the offering to partially finance its proposed acquisition of Vifor Pharma Ltd. and for general corporate purposes, according to a news release.
CSL is engaged in biotechnology, plasma collection and influenza prevention. It has headquarters in the United Kingdom.
| Issuer: | CSL Finance plc
|
| Guarantor: | CSL Ltd.
|
| Issue: | Notes
|
| Amount: | $4 billion
|
| Bookrunners: | BofA, Citigroup, HSBC and JPMorgan
|
| Pricing date: | April 20
|
| Settlement date: | April 27
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | April 27, 2027
|
| Coupon: | 3.85%
|
| Spread: | Treasuries plus 100 bps
|
| Talk: | Treasuries plus 130 bps area
|
|
|
| Seven-year notes
|
| Amount: | $500 million
|
| Maturity: | April 27, 2029
|
| Coupon: | 4.05%
|
| Spread: | Treasuries plus 120 bps
|
| Talk: | Treasuries plus 150 bps area
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | April 27, 2032
|
| Coupon: | 4.25%
|
| Spread: | Treasuries plus 145 bps
|
| Talk: | Treasuries plus 170 bps area
|
|
|
| 20-year notes
|
| Amount: | $500 million
|
| Maturity: | April 27, 2042
|
| Coupon: | 4.625%
|
| Spread: | Treasuries plus 155 bps
|
| Talk: | Treasuries plus 190 bps area
|
|
|
| 30-year notes
|
| Amount: | $1 billion
|
| Maturity: | April 27, 2052
|
| Coupon: | 4.75%
|
| Spread: | Treasuries plus 185 bps
|
| Talk: | Treasuries plus 210 bps area
|
|
|
| 40-year notes
|
| Amount: | $500 million
|
| Maturity: | April 27, 2062
|
| Coupon: | 4.95%
|
| Spread: | Treasuries plus 205 bps
|
| Talk: | Treasuries plus 230 bps area
|
|
|
|
|
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