By Marisa Wong and Cristal Cody
Los Angeles, Jan. 30 – Northern Natural Gas Co. priced $500 million of 5.625% notes due Feb. 1, 2054 with a spread over Treasuries of 127 basis points on Monday, according to a market source.
Initial price talk was in the Treasuries plus 162.5 bps area.
BofA Securities, Inc., CIBC World Markets Corp., Scotia Capital (USA) Inc., TD Securities (USA) LLC and U.S. Bancorp Investments Inc. are bookrunners for the Rule 144A and Regulation S offering.
The company wrapped a roadshow on Friday ahead of pricing, as previously reported.
Northern Natural Gas is a Berkshire Hathaway Energy Co. subsidiary based in Omaha.
| Issuer: | Northern Natural Gas Co.
|
| Amount: | $500 million
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| Issue: | Notes
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| Maturity: | Feb. 1, 2054
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| Bookrunners: | BofA Securities, Inc., CIBC World Markets Corp., Scotia Capital (USA) Inc., TD Securities (USA) LLC and U.S. Bancorp Investments Inc.
|
| Coupon: | 5.625%
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| Spread: | Treasuries of 127 bps
|
| Pricing date: | Jan. 29
|
| Distribution: | Rule 144A and Regulation S
|
| Initial price talk: | Treasuries plus 162.5 bps area
|
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