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Brown-Forman talks $350 million 30-year notes at 155 bps area over Treasuries; pricing Wednesday
By Aleesia Forni
Virginia Beach, June 24 – Brown-Forman Corp. is pricing $350 million of 30-year senior notes (A1/A-/A+) on Wednesday, according to a market source and a 424B3 filing with the Securities and Exchange Commission.
The notes are talked in the area of Treasuries plus 155 basis points.
The bookrunners are Barclays, Bank of America Merrill Lynch, Citigroup Global Markets Inc., U.S. Bancorp Investments Inc., Deutsche Bank Securities Inc. and Wells Fargo Securities LLC.
Proceeds will be used for general corporate purposes, which may include retiring existing debt including commercial paper, acquisitions, repurchases of common stock, dividends, funding of pension plan obligations, additions to working capital and capital expenditures.
The global spirits maker is based in Louisville, Ky.
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