By Cristal Cody
Chicago, April 13 – Viterra Finance BV priced $750 million of notes in two parts (BBB-/BBB-) on Wednesday, a market source reported.
The company sold $450 million of 4.9% five-year notes with a spread of Treasuries plus 235 basis points, directly on top of talk in the 235 bps area.
The second $300 million 10-year tranche priced with a 5.25% coupon, or a spread of Treasuries plus 265 bps. Talk had been in the 265 bps area.
Fixed-income investor calls started on Monday.
Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC are the bookrunners for the Rule 144A and Regulation S offering.
According to S&P Global Ratings, the company plans to use the proceeds to refinance a $1.7 billion undrawn bridge loan contracted for the signed acquisition of Gavilon and for general corporate purposes.
Viterra is a Netherlands-based wholesale agricultural products company.
| Issuer: | Viterra Finance BV
|
| Amount: | $750 million
|
| Issue: | Notes
|
| Bookrunners: | Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC
|
| Trade date: | April 13
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Investor calls
|
|
|
| Five-year notes
|
| Amount: | $450 million
|
| Maturity: | April 21, 2027
|
| Coupon: | 4.9%
|
| Spread: | Treasuries plus 235 bps
|
| Price talk: | Treasuries plus 235 bps area
|
|
|
| 10-year notes
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| Amount: | $300 million
|
| Maturity: | April 21, 2032
|
| Coupon: | 5.25%
|
| Spread: | Treasuries plus 265 bps
|
| Price talk: | Treasuries plus 265 bps area
|
|
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