By Cristal Cody
Eureka Springs, Ark., Nov. 7 – Stanley Black & Decker, Inc. priced a $345 million remarketing of 1.622% subordinated notes due Nov. 17, 2018 on Monday at par, according to an FWP filing with the Securities and Exchange Commission.
The two-year notes (Baa2/A-/BBB+) priced with a spread of 80 basis points over Treasuries.
The notes are non-callable.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC were the bookrunners.
Stanley Black & Decker is a New Britain, Conn.-based maker of hand tools, power tools and accessories.
| Issuer: | Stanley Black & Decker, Inc.
|
| Amount: | $345 million remarketing
|
| Description: | Subordinated notes
|
| Maturity: | Nov. 17, 2018
|
| Bookrunners: | Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC
|
| Coupon: | 1.622%
|
| Price: | Par
|
| Yield: | 1.622%
|
| Spread: | Treasuries plus 80 bps
|
| Call feature: | None
|
| Trade date: | Nov. 7
|
| Settlement date: | Nov. 17
|
| Ratings: | Moody’s: Baa2
|
| S&P: A-
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
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