By Mary-Katherine Stinson
Lexington, Ky., June 1 – Kubota Credit Corp., USA issued $500 million of 4.958% guaranteed bonds due May 31, 2026 (A), according to a listing notice.
The bonds are guaranteed by Kubota Corp.
The bonds priced at par.
There are make-whole and par call provisions. The make-whole premium is Treasuries plus 15 basis points. The par call date is April 30, 2026.
Morgan Stanley & Co. LLC, BofA Securities, Inc., Nomura Securities International, Inc. and Barclays are the joint bookrunners and joint lead managers.
Proceeds will be used for general corporate purposes.
Grapevine, Tex.-based Kubota Credit offers competitive finance, credit and leasing options on new and used Kubota tractors and other machinery both through its website and dealers. Kubota is based in Osaka, Japan.
| Issuer: | Kubota Credit Corp., USA
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| Guarantor: | Kubota Corp.
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| Amount: | $500 million
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| Issue: | Guaranteed bonds
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| Maturity: | May 31, 2026
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| Bookrunners: | Morgan Stanley & Co. LLC, BofA Securities, Inc., Nomura Securities International, Inc. and Barclays
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| Trustee: | Citicorp International Ltd. as fiscal agent
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| Coupon: | 4.958%
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| Price: | Par
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| Yield: | 4.958%
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| Call: | Make-whole call at Treasuries plus 15 bps until April 30, 2026; thereafter at par
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| Pricing date: | May 23
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| Settlement date: | May 31
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| Rating: | S&P: A
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| Listing date: | June 1
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| Distribution: | Regulation S
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| ISIN: | XS2544560639
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