| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2012 > News item |
Sara Lee tenders for three series, calls remaining 3.875% notes
By Jennifer Chiou
New York, March 6 - Sara Lee Corp. said it launched a cash tender offer for up to $470 million of the following series of its notes listed in order of acceptance priority level:
• Up to $250 million of its $500 million of outstanding 6.175% notes due 2032;
• Up to $150 million of its $400 million of outstanding 4.1% notes due 2020; and
• Up to $150 million of its $400 million of outstanding 2.75% notes due 2015.
The company also called in full its $500 million of 3.875% notes due 2013 for redemption on April 6. The Bank of New York Mellon Trust Co., NA is the trustee (800 254-2826).
Tender details
The offer will end at midnight ET on April 2.
Those who tender prior to 5 p.m. ET on March 19 will be eligible to receive the early tender premium of $30.00 per $1,000 of notes.
The payouts will be calculated using the 3.125% Treasury due Nov. 15, 2041 plus a fixed spread of 230 basis points for the 6.175% notes, the 2% Treasury due Feb. 15, 2022 plus 150 bps for the 4.1% notes and the 0.25% Treasury due Feb. 15, 2015 plus 110 bps for the 2.75% notes. Pricing will be set on March 20.
Goldman, Sachs & Co. (800 828-3182 or call collect 212 357-4692) and Morgan Stanley & Co. LLC (800 624-1808 or call collect 212 761-1057) are the lead dealer managers.
BNP Paribas Securities Corp., Lloyds Securities Inc., Mitsubishi UFJ Securities (USA), Inc. and RBS Securities Inc. are the co-dealer managers.
D.F. King & Co., Inc. (800 290-6427) is the tender agent and the information agent.
The manufacturer and marketer of brand-name consumer products focused primarily on meats, bakery, beverage and household products is based in Downers Grove, Ill.
© 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.