By Aleesia Forni
Virginia Beach, July 24 – Daimler Finance North America LLC priced $2.5 billion of senior notes (A3/A-/A-) in four tranches on Thursday, a market source said.
The sale included $350 million of floaters due 2017 priced at par to yield Libor plus 34 basis points.
A $1.15 billion tranche of 1.375% three-year notes sold at 99.655 to yield 1.493%, or Treasuries plus 50 bps.
There was also $500 million of 2.25% five-year notes sold with a spread of Treasuries plus 60 bps.
The notes sold at 99.736 to yield 2.305%.
A $500 million tranche of 3.25% 10-year notes priced at 99.039 to yield 3.364%, or Treasuries plus 85 bps.
The bookrunners were BofA Merrill Lynch, HSBC Securities and Mizuho Securities.
The financing unit of Daimler AG is based in Stuttgart, Germany.
| Issuer: | Daimler Finance North America LLC
|
| Issue: | Senior notes
|
| Amount: | $2.5 billion
|
| Joint bookrunners: | BofA Merrill Lynch, HSBC Securities, Mizuho Securities
|
| Trade date: | July 24
|
| Settlement date: | Aug. 1
|
| Ratings: | Moody’s: A3
|
| Standard & Poor’s: A-
|
| Fitch: A-
|
|
|
| Three-year floaters
|
| Amount: | $350 million
|
| Maturity: | Aug. 1, 2017
|
| Coupon: | Libor plus 34 bps
|
| Price: | Par
|
| Yield: | Libor plus 34 bps
|
| Price talk: | Libor equivalent to three-year notes
|
|
|
| Three-year notes
|
| Amount: | $1.15 billion
|
| Maturity: | Aug. 1, 2017
|
| Coupon: | 1.375%
|
| Price: | 99.655
|
| Yield: | 1.493%
|
| Spread: | Treasuries plus 50 bps
|
| Price talk: | Treasuries plus 55 bps area
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 3, 2019
|
| Coupon: | 2.25%
|
| Price: | 99.736
|
| Yield: | 2.305%
|
| Spread: | Treasuries plus 60 bps
|
| Price talk: | Treasuries plus 65 bps area
|
|
|
| 10-year notes
|
| Amount: | $500 million
|
| Maturity: | Aug. 1, 2024
|
| Coupon: | 3.25%
|
| Price: | 99.039
|
| Yield: | 3.364%
|
| Spread: | Treasuries plus 85 bps
|
| Price talk: | Treasuries plus 90 bps area
|
|
|
|
|
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