By Andrea Heisinger
Omaha, July 10 - SABMiller plc priced $1.25 billion of notes (Baa1/BBB+/BBB+) in two tranches Thursday, an informed source said.
The $550 million of 5.7% notes due 2014 priced at 99.824 to yield Treasuries plus 265 basis points. They have a make-whole redemption option of Treasuries plus 40 bps.
The tranche priced on the tight end of price talk of 265 bps to 270 bps.
The $700 million of 6.5% 10-year notes priced at 99.964 to yield Treasuries plus 270 bps. They have a make-whole redemption option of Treasuries plus 40 bps.
The tranche priced at the tight end of talk of 270 bps to 275 bps.
Active bookrunners were Banc of America Securities LLC, Barclays Capital Inc. and J.P. Morgan Securities Inc., with passive bookrunners BNP Paribas Securities and RBS Greenwich Capital.
The brewery and bottler is based in London.
| Issuer: | SABMiller plc
|
| Issue: | Notes
|
| Amount: | $1.25 billion
|
| Bookrunners: | Banc of America Securities LLC, Barclays Capital Inc., J.P. Morgan Securities Inc. (active), BNP Paribas Securities, RBS Greenwich Capital (passive)
|
| Trade date: | July 10
|
| Settlement date: | July 17
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
|
|
| Notes due 2014
|
| Amount: | $550 million
|
| Maturity: | Jan. 15, 2014
|
| Coupon: | 5.7%
|
| Price: | 99.824
|
| Spread: | Treasuries plus 265 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
| Price talk: | 265 to 270 bps
|
|
|
| 10-year notes
|
| Amount: | $700 million
|
| Maturity: | July 15, 2018
|
| Coupon: | 6.5%
|
| Price: | 99.964
|
| Spread: | Treasuries plus 270 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
| Price talk: | 270 to 275 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
